Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Aug. 01, 2020 | Sep. 15, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Aug. 1, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | COOL HOLDINGS, INC. | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | AWSM | |
Security Exchange Name | NONE | |
Entity Central Index Key | 0001274032 | |
Current Fiscal Year End Date | --01-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 110,536,882 | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity File Number | 001-32217 | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 33-0599368 | |
Entity Address, Address Line One | 2001 NW 84th Avenue | |
Entity Address, City or Town | Miami | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33122 | |
City Area Code | 786 | |
Local Phone Number | 254-6709 | |
Document Quarterly Report | true | |
Document Transition Report | false |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) - USD ($) shares in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | |
Income Statement [Abstract] | |||||
Net sales | $ 5,285,000 | $ 17,650,000 | $ 1,926,000 | $ 31,593,000 | $ 4,455,000 |
Cost of sales | 3,777,000 | 13,121,000 | 1,647,000 | 22,569,000 | 3,815,000 |
Gross profit | 1,508,000 | 4,529,000 | 279,000 | 9,024,000 | 640,000 |
Selling, general and administrative expenses | 2,358,000 | 6,451,000 | 4,785,000 | 13,577,000 | 7,498,000 |
Operating loss | (850,000) | (1,922,000) | (4,506,000) | (4,553,000) | (6,858,000) |
Other income (expense): | |||||
Interest | (532,000) | (36,000) | (902,000) | (960,000) | (1,630,000) |
Decrease (increase) in fair value of derivative liability | (807,000) | 543,000 | |||
Gain (loss) on extinguishment of debt | 13,642,000 | (9,000) | |||
Other income (expense), net | (2,000) | 6,000 | (58,000) | 14,000 | |
Income (loss) from continuing operations before provision for income taxes | (2,189,000) | (1,960,000) | (5,402,000) | 8,614,000 | (8,483,000) |
Provision for income taxes | (17,000) | (17,000) | (1,000) | ||
Income (loss) from continuing operations | (2,189,000) | (1,977,000) | (5,402,000) | 8,597,000 | (8,484,000) |
Income (loss) from discontinued operations | 66,000 | 0 | (212,000) | (236,000) | (789,000) |
Net income (loss) | $ (2,123,000) | $ (1,977,000) | $ (5,614,000) | $ 8,361,000 | $ (9,273,000) |
Basic income (loss) per share: | |||||
Continuing operations | $ (0.05) | $ (0.02) | $ (0.63) | $ 0.10 | $ (1.02) |
Discontinued operations | 0 | (0.02) | 0 | (0.10) | |
Total | (0.05) | (0.02) | (0.65) | 0.10 | (1.12) |
Diluted income (loss) per share: | |||||
Continuing operations | (0.05) | (0.02) | (0.63) | 0.09 | (1.02) |
Discontinued operations | 0 | (0.02) | 0 | (0.10) | |
Total | $ (0.05) | $ (0.02) | $ (0.65) | $ 0.09 | $ (1.12) |
Weighted-average number of common shares outstanding: | |||||
Basic | 43,777 | 109,023 | 8,596 | 87,376 | 8,281 |
Diluted | 43,777 | 109,023 | 8,596 | 89,858 | 8,281 |
Comprehensive income (loss): | |||||
Net income (loss) | $ (2,123,000) | $ (1,977,000) | $ (5,614,000) | $ 8,361,000 | $ (9,273,000) |
Foreign currency translation adjustments | (85,000) | (68,000) | 1,000 | 60,000 | (34,000) |
Comprehensive income (loss) | $ (2,208,000) | $ (2,045,000) | $ (5,613,000) | $ 8,421,000 | $ (9,307,000) |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 |
Current assets: | |||
Cash and cash equivalents | $ 4,111 | $ 1,972 | $ 2,638 |
Restricted cash | 1,255 | 1,197 | 1,196 |
Trade accounts receivable, net of allowance for doubtful accounts of $6, $39 and $17, respectively | 301 | 706 | 1,151 |
Other accounts receivable | 525 | 1,735 | 1,701 |
Inventory | 5,222 | 7,652 | 7,396 |
Prepaid assets | 874 | 877 | 846 |
Current assets of discontinued operations | 205 | 713 | 1,560 |
Total current assets | 12,493 | 14,852 | 16,488 |
Property and equipment, net | 602 | 808 | 858 |
Operating lease right-of-use assets | 8,674 | 8,760 | 7,504 |
Intangibles, net | 1,974 | 2,044 | 2,055 |
Goodwill | 699 | 699 | 699 |
Other assets | 241 | 245 | 245 |
Total assets | 24,683 | 27,408 | 27,849 |
Current liabilities: | |||
Accounts payable | 6,108 | 6,080 | 6,040 |
Accrued expenses and other current liabilities | 2,801 | 5,286 | 5,408 |
Current portion of operating lease liabilities | 2,893 | 2,768 | 2,577 |
Notes payable | 2,049 | 13,685 | 13,227 |
Derivative liability | 2,527 | 1,721 | |
Current liabilities of discontinued operations | 1,614 | 2,225 | 3,792 |
Total current liabilities | 15,465 | 32,571 | 32,765 |
Long-term liabilities: | |||
Notes payable | 2,799 | 85 | |
Operating lease liabilities | 6,003 | 6,109 | 5,023 |
Total liabilities | 24,267 | 38,680 | 37,873 |
Commitments and Contingencies | |||
Stockholders’ equity (deficit): | |||
Preferred stock, $0.001 par value, 10,000 shares authorized; 25 shares issued and outstanding as of all periods presented. | |||
Common stock, $0.001 par value, 150,000 shares authorized; 110,537; 43,777 and 43,777 shares issued and outstanding as of August 1, 2020, December 31, 2019 and February 1, 2020, respectively. | 111 | 44 | 44 |
Additional paid-in capital common stock | 52,117 | 49,081 | 49,074 |
Accumulated other comprehensive loss | 23 | (201) | (1,069) |
Accumulated deficit | (51,835) | (60,196) | (58,073) |
Total stockholders’ equity (deficit) | 416 | (11,272) | (10,024) |
Total liabilities and stockholders’ equity (deficit) | $ 24,683 | $ 27,408 | $ 27,849 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 |
Statement Of Financial Position [Abstract] | |||
Trade accounts receivable, allowance for doubtful accounts | $ 6 | $ 17 | $ 39 |
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 25,000 | 25,000 | 25,000 |
Preferred stock, shares outstanding | 25,000 | 25,000 | 25,000 |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 | 150,000,000 |
Common stock, shares issued | 110,537,000 | 43,777,000 | 43,777,000 |
Common stock, shares outstanding | 110,537,000 | 43,777,000 | 43,777,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Deficit [Member] |
Beginning Balance at Dec. 31, 2018 | $ (2,757) | $ 8 | $ 35,303 | $ (1,011) | $ (37,057) | |
Beginning Balance, shares at Dec. 31, 2018 | 322 | 7,793 | ||||
Debt exchange | 173 | 173 | ||||
Debt exchange, shares | 93 | |||||
Warrant exercises | 1,154 | 1,154 | ||||
Warrant exercises | 382 | |||||
Foreign currency translation | (35) | (35) | ||||
Net income (loss) | (3,659) | (3,659) | ||||
Ending Balance at Mar. 31, 2019 | (5,124) | $ 8 | 36,630 | (1,046) | (40,716) | |
Ending Balance, shares at Mar. 31, 2019 | 322 | 8,268 | ||||
Beginning Balance at Dec. 31, 2018 | (2,757) | $ 8 | 35,303 | (1,011) | (37,057) | |
Beginning Balance, shares at Dec. 31, 2018 | 322 | 7,793 | ||||
Net income (loss) | (9,273) | |||||
Ending Balance at Jun. 30, 2019 | (8,237) | $ 9 | 39,129 | (1,045) | (46,330) | |
Ending Balance, shares at Jun. 30, 2019 | 322 | 8,949 | ||||
Beginning Balance at Mar. 31, 2019 | (5,124) | $ 8 | 36,630 | (1,046) | (40,716) | |
Beginning Balance, shares at Mar. 31, 2019 | 322 | 8,268 | ||||
Stock-based compensation | 1,750 | $ 1 | 1,749 | |||
Stock-based compensation, shares | 681 | |||||
Issuance of warrants and beneficial conversion feature with convertible debt | 750 | 750 | ||||
Foreign currency translation | 1 | 1 | ||||
Net income (loss) | (5,614) | (5,614) | ||||
Ending Balance at Jun. 30, 2019 | (8,237) | $ 9 | 39,129 | (1,045) | (46,330) | |
Ending Balance, shares at Jun. 30, 2019 | 322 | 8,949 | ||||
Beginning Balance at Dec. 31, 2019 | (10,024) | $ 44 | 49,074 | (1,069) | (58,073) | |
Beginning Balance, shares at Dec. 31, 2019 | 25 | 43,777 | ||||
Stock-based compensation | 7 | 7 | ||||
Elimination of other comprehensive loss from sale of foreign subsidiary | 953 | 953 | ||||
Foreign currency translation | (85) | (85) | ||||
Net income (loss) | (2,123) | (2,123) | ||||
Ending Balance at Feb. 01, 2020 | (11,272) | $ 44 | 49,081 | (201) | (60,196) | |
Ending Balance, shares at Feb. 01, 2020 | 25 | 43,777 | ||||
Stock-based compensation | 151 | $ 3 | 148 | |||
Stock-based compensation, shares | 3,000 | |||||
Debt exchange | 2,321 | $ 60 | 2,261 | |||
Debt exchange, shares | 59,688 | |||||
Elimination of other comprehensive loss from sale of foreign subsidiary | 164 | 164 | ||||
Foreign currency translation | 128 | 128 | ||||
Net income (loss) | 10,338 | 10,338 | ||||
Ending Balance at May. 02, 2020 | 1,830 | $ 107 | 51,490 | 91 | (49,858) | |
Ending Balance, shares at May. 02, 2020 | 25 | 106,465 | ||||
Beginning Balance at Feb. 01, 2020 | (11,272) | $ 44 | 49,081 | (201) | (60,196) | |
Beginning Balance, shares at Feb. 01, 2020 | 25 | 43,777 | ||||
Net income (loss) | 8,361 | |||||
Ending Balance at Aug. 01, 2020 | 416 | $ 111 | 52,117 | 23 | (51,835) | |
Ending Balance, shares at Aug. 01, 2020 | 25 | 110,537 | ||||
Beginning Balance at May. 02, 2020 | 1,830 | $ 107 | 51,490 | 91 | (49,858) | |
Beginning Balance, shares at May. 02, 2020 | 25 | 106,465 | ||||
Stock-based compensation | 498 | $ 3 | 495 | |||
Stock-based compensation, shares | 2,991 | |||||
Debt exchange | 133 | $ 1 | 132 | |||
Debt exchange, shares | 1,081 | |||||
Foreign currency translation | (68) | (68) | ||||
Net income (loss) | (1,977) | (1,977) | ||||
Ending Balance at Aug. 01, 2020 | $ 416 | $ 111 | $ 52,117 | $ 23 | $ (51,835) | |
Ending Balance, shares at Aug. 01, 2020 | 25 | 110,537 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) | 1 Months Ended | 6 Months Ended | |
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | |
Cash flows from operating activities: | |||
Net income (loss) | $ (2,123,000) | $ 8,361,000 | $ (9,273,000) |
Less: income (loss) from discontinued operations | 66,000 | (236,000) | (789,000) |
Income (loss) from continuing operations | (2,189,000) | 8,597,000 | (8,484,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 62,000 | 342,000 | 127,000 |
Accretion of debt discount | 373,000 | 666,000 | 1,159,000 |
Non-cash interest | 232,000 | ||
Provision for (recovery of) bad debts | (22,000) | 89,000 | 11,000 |
Stock-based compensation | 8,000 | 649,000 | 1,750,000 |
Loss (gain) on debt conversion | (13,642,000) | 9,000 | |
loss on disposal of fixed assets | 6,000 | ||
Provision for obsolete inventory | 36,000 | 101,000 | 63,000 |
Loss (gain) on derivative liability | 807,000 | (543,000) | |
Impairment of right of use assets | 53,000 | ||
Change in operating assets and liabilities: | |||
Trade accounts receivable | 467,000 | 416,000 | 379,000 |
Other accounts receivable | (34,000) | 883,000 | 196,000 |
Inventory | (293,000) | 2,330,000 | 513,000 |
Prepaid assets | (32,000) | 3,000 | (183,000) |
Other assets | 3,000 | (1,000) | |
Accounts payable | 40,000 | 703,000 | (1,318,000) |
Accrued expenses | (122,000) | (831,000) | 1,171,000 |
Operating lease right of use assets and lease liabilities | 20,000 | (454,000) | 48,000 |
Net cash used in continuing operating activities | (879,000) | (397,000) | (4,560,000) |
Net cash provided by (used in) discontinued operating activities | 299,000 | (167,000) | 85,000 |
Net cash used in operating activities | (580,000) | (564,000) | (4,475,000) |
Cash flows from investing activities: | |||
Purchase of property and equipment | (72,000) | (9,000) | |
Sale of investment securities | 23,000 | ||
Net cash provided by (used in) investing activities | (72,000) | 14,000 | |
Cash flows from financing activities: | |||
Proceeds from issuance of notes payable, net of debt issuance costs | 3,098,000 | 3,310,000 | |
Payment of notes payable | (325,000) | (811,000) | |
Proceeds from warrant exercises | 1,154,000 | ||
Net cash provided by financing activities | 2,773,000 | 3,653,000 | |
Effect of exchange rate changes on cash | (85,000) | 60,000 | (34,000) |
Net increase (decrease) in cash and cash equivalents | (665,000) | 2,197,000 | (842,000) |
Cash, cash equivalents and restricted cash, beginning of period | 3,834,000 | 3,169,000 | 3,159,000 |
Cash, cash equivalents and restricted cash, end of period | 3,169,000 | 5,366,000 | 2,317,000 |
Non-cash financing activities: | |||
Conversion of accounts payable and accrued liabilities to equity | 823,000 | 164,000 | |
Accounts receivable offset against conversion of accounts payable to equity | (227,000) | ||
Record operating lease right-of-use assets and operating lease liabilities | $ 1,510,000 | $ 437,000 | $ 4,264,000 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Aug. 01, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | NOTE 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and these condensed notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The preparation of financial statements requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results are likely to differ from those estimates, but management does not believe such differences will materially affect the financial position or results of operations of Cool Holdings, Inc. (the “Company”), although they may. These unaudited consolidated financial statements and condensed notes should be read in conjunction with the financial statements and notes as of and for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10‑K for such year. On September 25, 2019, the Company completed the acquisition of Simply Mac, Inc. (“Simply Mac”) in a stock transaction, after which Simply Mac became a wholly-owned subsidiary of the Company (see Note 17). Consequently, the results of Simply Mac are included in the Company’s consolidated financial statements for periods subsequent to the acquisition. The Company recently sold both of its international subsidiaries in Latin America (see Note 18). On January 31, 2020, the Company sold all of its ownership interest in OneClick Argentino S.R.L., the Company’s subsidiary that operated 6 retail electronics stores in Argentina. On April 6, 2020, the Company sold all of its ownership interest in Verablue Caribbean Group, S.R.L. (“Verablue”), the Company’s subsidiary that operated 7 retail electronics stores in in the Dominican Republic. Both entities have been . During March 2020, the Company restructured substantially all of its remaining outstanding debt. At September 30, 2019, after the acquisition of Simply Mac, the principal amount of the Company’s outstanding debt amounted to $24.2 million. During October 2019, approximately $7.8 million of the debt was converted into common stock of the Company, leaving $16.4 million outstanding at December 31, 2019. After the March restructuring, the Company’s outstanding debt was reduced by $14.6 million through a combination of debt forgiveness and conversion into common stock, leaving $1.8 million outstanding with extended maturity dates. Prior to its acquisition by the Company, Simply Mac operated on a 52-53 fiscal year ending on the Saturday closest to January 31 st Certain accounts in the Company’s consolidated balance sheet at December 31, 2019 were reclassified to conform to their presentation at February 1, 2020 and at August 1, 2020. The Company’s consolidated financial statements include assets, liabilities and operating results of its wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, considered necessary to fairly present the Company’s financial condition as of August 1, 2020 and February 1, 2020, and the results of operations, financial position and cash flows for all periods presented. The results reported in these consolidated financial statements for the transition period from January 1, 2020 to February 1, 2020 and for the 26 weeks ended August 1, 2020 are not necessarily indicative of the operating results, financial condition or cash flows that may be expected for the full year of fiscal 2021 or for any future period. |
Going Concern Considerations
Going Concern Considerations | 6 Months Ended |
Aug. 01, 2020 | |
Going Concern Considerations [Abstract] | |
Going Concern Considerations | NOTE 2: Going Concern Considerations In accordance with the guidance issued by the FASB under ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, the Company is required to evaluate each reporting period whether there is substantial doubt about its ability to continue as a going concern. In evaluating the Company’s ability to continue as a going concern, management considered the conditions and events that could raise substantial doubt about the Company’s ability to continue as a going concern for 12 months following the date the Company’s financial statements are issued. Management considered the Company’s current financial condition and liquidity sources, including current funds and available working capital, forecasted future cash flows and the Company’s conditional and unconditional obligations due within one year from the date of issuance of the financial statements. Because the Company has sustained significant losses over the past two years, only recently completed the restructuring of its debt, and because of the uncertainty of the near term implications of the novel coronavirus (“COVID-19”) pandemic on its business, management has substantial doubt that the Company could remain independent and continue as a going concern for the required period of time if it were not able to raise additional capital to fund its working capital needs. These consolidated financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern. |
Discontinued Operations
Discontinued Operations | 6 Months Ended |
Aug. 01, 2020 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Discontinued Operations | NOTE 3. Discontinued Operations During the fourth quarter of 2018, the Company completed the closure of its verykool business segment. Also, as discussed in Note 18, the Company sold OneClick Argentino, its business unit in Argentina, and Verablue Caribbean Group, its business unit in the Dominican Republic, which resulted in losses on sale of $13,000 and $136,000 in the transition period from January 1, 2020 to February 1, 2020 and in the 26 weeks ended August 1, 2020, respectively. Consequently, these business units, plus OneClick International, the wholly owned parent of the two business units, are also reported as discontinued operations in our consolidated financial statements for all periods presented. The results of discontinued operations for the three months ended June 30, 2019 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ — $ — $ 2,102 $ 901 $ 3,003 Cost of sales — 1 1,355 624 1,980 Gross profit (loss) — (1 ) 747 277 1,023 Selling, general and administrative expenses 19 137 739 298 1,193 Operating loss (19 ) (138 ) 8 (21 ) (170 ) Other expense, net (4 ) — (38 ) — (42 ) Loss from discontinued operations before income taxes (23 ) (138 ) (30 ) (21 ) (212 ) Provision for income taxes — — — — - Net loss from discontinued operations $ (23 ) $ (138 ) $ (30 ) $ (21 ) $ (212 ) The results of discontinued operations for the six months ended June 30, 2019 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ 47 $ — $ 3,890 $ 1,808 $ 5,745 Cost of sales 47 12 2,546 1,234 3,839 Gross profit (loss) — (12 ) 1,344 574 1,906 Selling, general and administrative expenses 27 254 1,594 611 2,486 Operating loss (27 ) (266 ) (250 ) (37 ) (580 ) Other income (expense), net 26 (13 ) (220 ) — (207 ) Loss from discontinued operations before income taxes (1 ) (279 ) (470 ) (37 ) (787 ) Provision for income taxes (2 ) — — — (2 ) Net loss from discontinued operations $ (3 ) $ (279 ) $ (470 ) $ (37 ) $ (789 ) The results of discontinued operations for the transition period from January 1, 2020 to February 1, 2020 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ — $ — $ 821 $ 334 $ 1,155 Cost of sales 8 — 544 223 775 Gross profit (loss) (8 ) — 277 111 380 Selling, general and administrative expenses 2 1 203 81 287 Operating loss (10 ) (1 ) 74 30 93 Other income (expense), net — — (21 ) (6 ) (27 ) Loss from discontinued operations before income taxes (10 ) (1 ) 53 24 66 Provision for income taxes — — — — — Net income from discontinued operations $ (10 ) $ (1 ) $ 53 $ 24 $ 66 There were no results of discontinued operations for the 13 weeks ended August 1, 2020. The results of discontinued operations for the 26 weeks ended August 1, 2020 are as follows (in thousands): Verykool Verablue Caribbean TOTAL Net sales $ — $ 407 $ 407 Cost of sales — 319 319 Gross profit (loss) — 88 88 Selling, general and administrative expenses 6 192 198 Operating loss (6 ) (104 ) (110 ) Other income (expense), net 3 (129 ) (126 ) Loss from discontinued operations before income taxes (3 ) (233 ) (236 ) Provision for income taxes — — — Net loss from discontinued operations $ (3 ) $ (233 ) $ (236 ) |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Aug. 01, 2020 | |
Equity [Abstract] | |
Stock-Based Compensation | NOTE 4. Stock-Based Compensation The Company’s 2015 Equity Incentive Plan (the “Plan”) was approved by stockholders in June 2015. The Plan is an omnibus plan that allows for grants of stock options, stock appreciation rights, stock awards, restricted stock, stock units and performance units. As of August 1, 2020, options to purchase 1,802,000 shares and 33,000 unvested restricted shares were outstanding under the 2015 Plan and 2,153,000 shares were available for future grant. During the six months ended June 30, 2019, the Company made stock grants to directors and employees in an aggregate amount of 600,000 shares valued at $1,560,000. In addition, restricted stock grants on 100,000 shares valued at $260,000 were made to employees with annual vesting over 2 years from the date of grant. In June 2019, in connection with the Company’s termination of its then chief financial officer, the Company accelerated the vesting on 26,667 restricted shares valued at $69,000 and paid a portion of his severance using 53,571 shares valued at $108,000. Total stock-based compensation expense during the six months ended June 30, 2019 amounted to $1,750,000. No equity grants were made during the transition period from January 1, 2020 to February 1, 2020. However, stock-based compensation expense of $7,000 was recorded during the period relating to vesting of restricted shares issued to employees in June 2019. During the 26-week period ended August 1, 2020, the Company made grants of unregistered shares to advisors associated with the March 2020 debt restructuring in the aggregate amount of 3,000,000 shares, and a corresponding reduction of warrants on 3,000,000 shares previously issued to the advisors. On a combined basis, the shares issued were valued at $216,000, and the warrant reductions were valued at $89,000, resulting in a net compensation expense of $127,000. Also during the period, the Company made stock grants under the Plan in an aggregate amount of 2,950,000 shares to its board of directors. The stock was valued at $390,000 based on the closing market price on the date of grant. Additional expense for restricted shares vesting during the period amounted to $53,000. Also during the 26-week period ended August 1, 2020, the Company granted stock options to purchase an aggregate of 1,800,000 shares to employees. The fair value of the option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: stated life of 5 years; risk-free interest rate of 0.2% to 0.3% based on the U.S. Treasury yields in effect at the time of grant; expected dividend yield of 0% as the Company has not, and does not intend to, declare dividends; and an expected life of 2.5 years for options having immediate vesting and 3.29 years for graded vested options. The expected annualized volatility of the Company’s common stock used in the calculation was 95%. Determination of this rate began with the fully-observed historical volatility of the stock dating back to March 2018, immediately following the announcement of completion of the Cooltech merger and related stock split. It was noted that the Company did not have any exchange-traded options since the merger from which to obtain an implied volatility. ertain adjustments were then applied to the fully‑observed historical volatility through June 2020 in the form of excluding the effects of the Company’s extraordinarily-significant announcements and events during the period. A summary of option activity under the 201 Plan as of August 1, 2020 and changes during the 26 weeks then ended is presented in the table below (shares in thousands): Shares Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life in Years Outstanding at February 1, 2020 2 $ 34.540 0.62 Granted 1,800 $ 0.132 4.84 Exercised — — — Expired/Forfeited — — — Outstanding at August 1, 2020 1,802 $ 0.169 4.83 Vested and expected to vest 1,802 $ 0.169 4.83 Exercisable at August 1, 2020 1,082 $ 0.194 4.83 Non-vested at August 1, 2020 (a) 720 $ 0.132 4.83 (a) Weighted average grant-date fair value is $0.08 per share. Total stock-based compensation expense during the 26 weeks ended August 1, 2020 amounted to $649,000. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Aug. 01, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 5. Earnings Per Share Basic earnings (loss) per share is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share is computed similarly to basic earnings (loss) per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued as determined by using the treasury stock method. Common share equivalents are excluded from the computation if their effect is anti-dilutive. The Company’s common share equivalents consist of convertible preferred stock, stock options and warrants. Common shares from the potential exercise of certain options and warrants are excluded from the computation of diluted earnings (loss) per share if their exercise prices are greater than the Company’s average stock price for the period. For the transition period from January 1, 2020 to February 1, 2020, the number of such shares excluded was 21,282,000. For both the 13 and 26-week periods ended August 1, 2020, the number of such shares excluded was 22,929,000. For both the three and six-month periods ended June 30, 2019, the number of such shares excluded was 5,598,000. For the 26-week period ended August 1, 2020, the dilutive effect of in-the-money warrants amounted to 2,458,000 shares. For the transition period from January 1, 2020 to February 1, 2020, the number of in-the-money warrants and preferred shares excluded from the computation of net loss per share because their inclusion would have been anti-dilutive amounted to 10,025,000. For the 13-week period ended August 1, 2020, the number of in-the-money warrants and preferred shares excluded from the computation of net loss per share amounted to 7,025,000. For both the three and six‑month periods ended June 30, 2019, the number of in-the-money warrants and preferred shares excluded from the computation of net loss per share amounted to 415,000. |
Income Taxes
Income Taxes | 6 Months Ended |
Aug. 01, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 6. Income Taxes The Company made a comprehensive review of its portfolio of uncertain tax positions in accordance with applicable standards of the Financial Accounting Standards Board (“FASB”). In this regard, an uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes. As a result of this review, the Company concluded that at this time there are no uncertain tax positions, and there has been no cumulative effect on retained deficit. The Company is subject to U.S. federal income tax as well as income tax in multiple states and foreign jurisdictions. For all major taxing jurisdictions, the tax years 2014 through 2019 remain open to examination or re-examination. As of August 1, 2020, the Company does not expect any material changes to unrecognized tax positions within the next twelve months. The Company recognizes the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity’s financial statements or tax returns. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. Fluctuations in the actual outcome of these future tax consequences could materially impact the Company’s financial position or results of operations. |
Inventory
Inventory | 6 Months Ended |
Aug. 01, 2020 | |
Inventory Disclosure [Abstract] | |
Inventory | NOTE 7. Inventory Inventory is stated at the lower of cost (first-in, first-out) or net realizable value and consists primarily of consumer electronics and accessories. The Company writes down its inventory to net realizable value when it is estimated to be slow-moving or obsolete. For the 13 and 26 weeks ended August 1, 2020, inventory write-downs were $55,000 and $101,000, respectively. For the transition period from January 1, 2020 to February 1, 2020, inventory write-downs were $41,000. For the three and six months ended June 30, 2019, inventory write-downs were $65,000 and $79,000, respectively. |
Property and Equipment
Property and Equipment | 6 Months Ended |
Aug. 01, 2020 | |
Property Plant And Equipment [Abstract] | |
Property and Equipment | NOTE 8. Property and Equipment Property and equipment, all located in the United States, consisted of the following as of the dates presented (in thousands): August 1, 2020 December 31, 2019 February 1, 2020 (unaudited) (unaudited) Machinery and equipment $ 193 $ 224 $ 225 Furniture and fixtures 400 371 371 Leasehold improvements 903 872 872 Subtotal 1,496 1,467 1,468 Less accumulated depreciation (894 ) (609 ) (660 ) Total $ 602 $ 858 $ 808 Depreciation and amortization expense of property and equipment for the 13 and 26 weeks ended August 1, 2020 was $127,000 and $272,000, respectively. Depreciation and amortization expense for the transition period from January 1, 2020 to February 1, 2020 was $51,000. Depreciation and amortization expense for the three and six months ended June 30, 2019 was $64,000 and $127,000, respectively. |
Intangible Asset and Goodwill
Intangible Asset and Goodwill | 6 Months Ended |
Aug. 01, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Asset and Goodwill | NOTE 9. Intangible Asset and Goodwill The Company’s goodwill and definite-lived intangible asset arose from the acquisition of Simply Mac on September 25, 2019. The intangible asset is comprised solely of the Simply Mac tradename that is being amortized over 15 years. The carrying value of the intangible asset consisted of the following as of the dates presented (in thousands): August 1, 2020 December 31, 2019 February 1, 2020 (unaudited) (unaudited) Simply Mac Tradename $ 2,092 $ 2,092 $ 2,092 Less accumulated amortization (118 ) (37 ) (48 ) Total $ 1,974 $ 2,055 $ 2,044 Amortization expense for the 13 and 26 weeks ended August 1, 2020 was $35,000 and $70,000, respectively. Amortization expense for the transition period from January 1, 2020 to February 1, 2020 was $11,000. The carrying amount of goodwill at December 31, 2019, February 1, 2020 and August 1, 2020 amounted to $699,000. The Company performs an impairment test of goodwill on an annual basis during the fourth quarter, or when circumstances indicate that the carrying value of goodwill might be impaired. |
Accrued Expenses
Accrued Expenses | 6 Months Ended |
Aug. 01, 2020 | |
Payables And Accruals [Abstract] | |
Accrued Expenses | NOTE 10. Accrued Expenses Accrued expenses consisted of the following as of the dates presented (in thousands): August 1, 2020 (unaudited) December 31, 2019 February 1, 2020 (unaudited) Accrued compensation (wages, benefits, severance, vacation) $ 1,162 $ 1,421 $ 1,457 Customer deposits and overpayments 300 152 154 Accrued product costs — 430 199 Accrued interest 113 798 1,315 Accrued sales tax 604 915 711 Accrued income taxes 220 220 220 Other accruals 402 1,472 1,230 Total $ 2,801 $ 5,408 $ 5,286 |
Notes Payable
Notes Payable | 6 Months Ended |
Aug. 01, 2020 | |
Debt Disclosure [Abstract] | |
Notes Payable | NOTE 11. Notes Payable Notes payable consisted of the following as of the dates presented (in thousands): August 1, 2020 (unaudited) December 31, 2019 February 1, 2020 (unaudited) 0% convertible note due January 2021 $ — $ 91 $ 91 6% promissory note due December 2020 500 500 500 12% convertible notes due October 2019 — 1,775 1,775 12% convertible notes due November 2019 — 400 400 12% convertible notes due May 2020 — 1,500 1,500 12% convertible notes due July, August and September 2020 — 4,235 4,235 12% secured promissory note due September 2020 — 7,858 7,858 6% promissory note due February 2024 1,250 — — 1% promissory note due April 2022 3,098 — — Total face amount 4,848 16,359 16,359 Unamortized discount — (3,047 ) (2,674 ) Total carrying value 4,848 13,312 13,685 Amount classified as current 2,049 13,227 13,685 Amount classified as long-term $ 2,799 $ 85 $ — In January 2018, the Company issued an aggregate of $1,000,000 of 3-year 0% convertible notes and warrants. The notes are convertible into an aggregate of 570,287 shares of common stock of the Company and the warrants are exercisable for 570,287 shares of common stock of the Company at an exercise price of $9.15 per share. The Company valued the debt and the warrants in accordance with ASC 470-20-25-2 using a binomial option pricing model for the warrants, and the conversion feature, which was determined to be a Beneficial Conversion Feature, was recorded at fair value based on the difference between the closing market price of the Company’s stock on the date of the transaction and the implied conversion price in the fair value of the debt. The valuation assumed a 105% volatility rate of the Company’s common stock, a risk-free interest rate of 2.20% and a credit spread of 7.70%. The warrants were assigned a value of $127,000 and the conversion feature was assigned a value of $144,000. The remaining value of $729,000 was assigned to the debt. The aggregate discount of $271,000 is being amortized to interest expense over the 3-year life of the notes on a straight-line basis. In connection with a debt exchange on August 15, 2018, holders of an aggregate principal amount of $725,000 of the notes converted their notes to common stock, leaving a principal balance of $275,000 outstanding at December 31, 2018. In connection with another debt exchange in October 2019 (see Note 12), holders of an aggregate principal amount of $184,000 of the notes converted their notes into common stock, leaving a principal balance of $91,000 outstanding at December 31, 2019. The unamortized discount related to the converted notes amounted to $15,000, which amount was included in the loss on debt extinguishment. In connection with a subsequent debt exchange in March 2020 (see Note 12), the holder of the final remaining $91,000 note converted its note into common stock. The unamortized discount related to the converted note of $5,000 was included in the gain on debt extinguishment. Accretion of the discount on these notes for the 13 weeks ended May 2, 2020 and the transition period from January 1, 2020 was $1,000 and nil, respectively. Accretion for the three and six months ended June 30, 2019 was $6,000 and $12,000, respectively. In April 2018, the Company issued a $1,000,000 installment note bearing interest at 4.02% per annum due April 30, 2021. The note specified varying monthly payments of principal and interest through 2021. By October 2019, the Company had paid down the principal balance to $704,000. In connection with the debt exchange in October 2019 (see Note 12), $204,000 of the note plus accrued interest was converted into common stock, leaving an outstanding balance of $500,000. In March 2020, the note was amended so that the outstanding balance plus accrued interest at 6% from March 24, 2020 are now due on December 31, 2020. In September 2018, the Company entered into a Note Consolidation Agreement with a lender in which 12 promissory notes and associated accrued interest were consolidated into single unsecured 8% promissory note in the principal amount of $2,107,000. The note was due in a lump sum on March 31, 2021 with interest compounding annually. Because the present value of the cash flows under the terms of the new debt instrument was less than 10% different from the present value of the aggregate remaining cash flows under the terms of the original instruments, the debt instruments were not considered to be substantially different and the transaction was not considered a debt extinguishment. In connection with the debt exchange in October 2019 (see Note 12), this note plus accrued interest was converted into common stock. In October 2018, the Company issued an aggregate of $4,000,000 of 1-year 12% convertible notes and warrants. The notes are convertible at the option of the holder after six months from the date of issuance into an aggregate of 941,181 shares of common stock of the Company and the warrants are exercisable for 470,592 shares of common stock of the Company at an exercise price of $4.25 per share. The Company valued the debt and the warrants in accordance with ASC 470-20-25-2 using a binomial option pricing model for the warrants, and the conversion feature, which was determined to be a Beneficial Conversion Feature, was recorded at fair value based on the difference between the closing market price of the Company’s stock on the date of the transaction and the implied conversion price in the fair value of the debt. The valuation assumed a 90% volatility rate of the Company’s common stock, a 25% discount on the value of the underlying stock due to trading restrictions, and a risk-free interest rate of 2.47%. The warrants were assigned a value of $769,000 and the conversion feature was assigned a value of $1,173,000. The remaining value of $2,058,000 was assigned to the debt. The aggregate discount of $1,942,000 was amortized to interest expense over the 1-year life of the notes on a straight-line basis, which approximated the effective interest method. In connection with the debt exchange in October 2019 (see Note 12), holders of an aggregate principal amount of $2,225,000 of the notes converted their notes plus accrued interest into common stock, leaving a principal balance of $1,775,000 outstanding at December 31, 2019. The unamortized discount related to the converted notes amounted to $8,000, which amount was included in the loss on debt extinguishment. In connection with the debt exchange in March 2020 (see Note 12), $1,700,000 of the remaining balance plus accrued interest was converted into common stock, and the remaining $75,000 note was amended so that the outstanding balance plus accrued interest at 6% from November 1, 2019 was due on June 30, 2020, which payment was timely made. Accretion of the discount for the three and six months ended June 30, 2019 amounted to $485,000 and $971,000, respectively. In November 2018, the Company issued an aggregate of $1,220,000 of 1-year 12% convertible notes and warrants. The notes are convertible at the option of the holder after six months from the date of issuance into an aggregate of 277,274 shares of common stock of the Company and the warrants are exercisable for 138,638 shares of common stock of the Company at an exercise price of $4.40 per share. The Company valued the debt and the warrants in accordance with ASC 470-20-25-2 using a binomial option pricing model for the warrants. The conversion feature was not assigned any value as the implied conversion price in the fair value of the debt was higher than the closing market price of the Company’s stock on the date of the transaction. The valuation assumed a 90% volatility rate of the Company’s common stock, a 25% discount on the value of the underlying stock due to trading restrictions, and a risk-free interest rate of 2.52%. The warrants were assigned a value of $118,000 and the remaining value of $1,102,000 was assigned to the debt. The discount of $118,000 was amortized to interest expense over the 1‑year life of the notes on a straight-line basis. In connection with the debt exchange in October 2019 (see Note 12), holders of an aggregate principal amount of $820,000 of the notes converted their notes plus accrued interest into common stock, leaving a principal balance of $400,000 outstanding at December 31, 2019. The unamortized discount related to the converted notes amounted to $5,000, which amount was included in the loss on debt extinguishment. In connection with the debt exchange in March 2020 (see Note 12), the remaining balance plus accrued interest was converted into common stock. Accretion of the discount for the three and six months ended June 30, 2019 amounted to $30,000 and $59,000, respectively. In May 2019, the Company issued an aggregate of $3,500,000 of 1-year 12% convertible notes and warrants. The notes are convertible at the option of the holder after six months from the date of issuance into an aggregate of 1,258,996 shares of common stock of the Company and the warrants are exercisable for 629,500 shares of common stock of the Company at an exercise price of $2.72 per share. The Company valued the debt and the warrants in accordance with ASC 470-20-25-2 using a binomial option pricing model for the warrants, and the conversion feature, which was determined to be a Beneficial Conversion Feature, was recorded at fair value based on the difference between the closing market price of the Company’s stock on the date of the transaction and the implied conversion price in the fair value of the debt. The valuation assumed a 105% volatility rate of the Company’s common stock, a 30% discount on the value of the underlying stock due to trading restrictions, and a risk-free interest rate of 2.33%. The warrants were assigned a value of $507,000 and the conversion feature was assigned a value of $243,000. In addition, the Company incurred fundraising costs of $190,000, which were recorded as an additional discount. The remaining value of $2,750,000 was assigned to the debt. The aggregate discount of $940,000 was being amortized to interest expense over the 1-year life of the notes on a straight-line basis, which approximated the effective interest method. In connection with the debt exchange in October 2019 (see Note 11), holders of an aggregate principal amount of $2,000,000 of the notes converted their notes plus accrued interest into common stock, leaving a principal balance of $1,500,000 outstanding at December 31, 2019. The unamortized discount related to the converted notes amounted to $304,000, which amount was included in the loss on debt extinguishment. In connection with the debt exchange in March 2020 (see Note 12), the remaining balance plus accrued interest was converted into common stock. The unamortized discount related to the converted notes amounted to $57,000, which amount was included in the gain on debt extinguishment. Accretion of the discount for the 13 weeks ended May 2, 2020 amounted to $60,000. Accretion of the discount for the three and six months ended June 30, 2019 was $117,000. In July, August and September 2019, the Company issued a number of tranches of 1-year 12% convertible notes and warrants with an aggregate principal amount of $4,551,000. The notes and warrants are convertible/exercisable at the option of the holders into the Company’s shares of common stock at any time during their respective exercisability period commencing on the date the Company obtains shareholder or other required regulatory approvals to permit the conversion of the notes (the “Approval Date”). The funds raised from the issuance of these notes were used to finance the acquisition of Simply Mac. At the time of issuance of the notes, both the note conversion prices and the warrant exercise prices were structured to be a discount to the current market price of the Company’s stock, certain notes at a 20% discount to the 5-day closing average price and others at a 30% discount to the 2-day volume weighted average price. However, in order to issue the convertible notes and warrants below market, shareholder approval was required according to Nasdaq rules to which the Company was subject at the time. Consequently, the trigger date for the conversion and warrant pricing was set as the Approval Date. In accordance with ASC 815, the conversion options embedded in the respective notes meet the criteria of a derivative instrument liability and are bifurcated from the host debt contract. Similarly, the warrants meet the criteria of a freestanding derivative instrument liability. Accordingly, the notes and warrants are recorded at fair value as of the respective issuance dates and marked-to-market at subsequent reporting dates with the changes recorded as gains or losses. Based on facts and circumstances as of the respective measurement dates, a Monte-Carlo 2018, immediately following the announcement of completion of the Cooltech merger and related stock split. It was noted that the Company did not have any exchange-traded options since the merger from which to obtain an implied volatility. ertain adjustments were then applied to the full-observed historical volatility in the form of excluding the effects of the Company’s extraordinarily-significant announcements and events during such period and capturing market participants’ views of pricing convertible notes (compared to own non-convertible debt with similar maturity or publicly-traded comparable debt issuances) and illiquid shares and warrants. Considering the utilization of unobservable inputs, as defined by ASC 820 , the fair value of the notes and warrants as of the respective issuance dates and at September 30, 2019 are level 3 measurements. As a result of the valuation methodology, the conversion feature was assigned a value of $2,471,000 and the warrants were assigned a value of $1,897,000. The remaining value of $182,000 was assigned to the debt. The aggregate discount of $4,368,000 was being amortized to interest expense over the 1-year On September 25, 2019, in connection with the acquisition of Simply Mac discussed in Note 17, the Company issued a $7,858,000 secured promissory note to GameStop. The note bore interest at a rate equal to 12% per annum and called for the Company to make four equal installment payments of $1,965,000, plus accrued interest, on each 3-month anniversary of the note. The note was secured by, among other things, the Simply Mac inventory and accounts receivable. The first installment payment was due on December 25, 2019, but the Company was unable to make the payment. Consequently, at December 31, 2019, the note was in default, and GameStop provided the Company with an official Notice of Default on January 15, 2020. On March 11, 2020, the Company and GameStop entered into an agreement to amend and restate the promissory note. On April 16, 2020, the Company secured a $3,098,000, 2-year loan from a regional bank pursuant to the U.S. Small Business Administration Paycheck Protection Program (“PPP”) under Title I of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act passed by Congress and signed into law on March 27, 2020. The note bears interest at 1.0% per annum and no payments are due for the first six months. Subject to the applicable provisions of the CARES Act, the Company may apply to the lender for forgiveness of the amount due on the loan in an amount equal to the sum of costs incurred by the Company during the first 24‑weeks on selected costs, primarily payroll, rent and utilities. Not more than 40% of the amount forgiven can be attributable to non‑payroll costs. Any unforgiven loan balance is payable in equal monthly instalments beginning in the 7 th Interest expense for notes payable for the 13 and 26 weeks ended August 1, 2020 was $35,000 and $291,000, respectively. Interest expense for the transition period from January 1, 2020 to February 1, 2020 was $158,000. Interest expense for the three and six months ended June 30, 2019 was $901,000 and $1,629,000, respectively. Derivative Liability: As noted above, the $4,368,000 discount applied against the July, August and September convertible notes to account for the convertibility feature and warrants was recorded as a derivative liability on the Company’s balance sheet. At December 31, 2019, although the Company was no longer subject to Nasdaq requirements for shareholder approval, it was determined that the conversion features and warrants did not have fixed conversion or exercise prices. Accordingly, these instruments continued to be accounted for as derivative liabilities. The Company used the same methodology as described above to value the derivative liabilities at each subsequent measurement date. In connection with the debt exchange in October 2019 (see Note 12), the Company issued warrants valued at $3,586,000 that were also recorded as derivative liabilities. These warrants were valued at issuance date and at each subsequent measurement date utilizing the methodology described in Note 12, and are level 3 measurements. Total derivative liabilities of $7,954,000 were marked-to-market at December 31, 2019, February 1, 2020 and at March 31, 2020, the date the underlying notes were exchanged (see Note 12). The changes resulted in an increase in value of $806,000 at February 1, 2020 that was recorded as other expense in the Company’s statement of operations for the transition period from January 1 to February 1, 2020, and resulted in a decrease in value of $543,000 at March 31, 2020 that was recorded as other income for the 13 and 26 weeks ended May 2, 2020 |
Capital Stock
Capital Stock | 3 Months Ended |
May 02, 2020 | |
Equity [Abstract] | |
Capital Stock | NOTE 12. Capital Stock On January 9, 2019, the Company entered into a fee settlement agreement with a vendor to whom it owed $164,000. In the agreement, the parties agreed to satisfy this obligation by the Company issuing to the vendor 93,448 restricted common shares and warrants to purchase 93,448 common shares at $1.64 per share. The warrants are exercisable beginning July 9, 2019 and expire January 9, 2022. The fair value of the restricted stock on the date of issuance was estimated to be $114,000 using a 25% discount for trading restrictions computed using a risk-free interest rate of 2.52% for the 6-month hold period and an expected volatility of 90% based on the Company’s historical stock price fluctuation. The fair value of the warrants was estimated on the date of issuance at $59,000 using the Black-Scholes pricing model and assuming a 90% volatility rate and a risk-free interest rate of 2.54% based on the 3-year U.S. Treasury rate then in effect. The combined value of the stock and warrants was $173,000, and the Company recorded a loss on extinguishment of debt of $9,000. During March 2019, holders of warrants on 382,165 shares of the Company’s common stock exercised the warrants at the strike price of $3.02 per share, which resulted in aggregate cash proceeds to the Company of $1,154,000. On September 30, 2019, the holder of 297,000 shares of preferred stock converted the shares into an equal number of shares of common stock. During October 2019, the Company entered into exchange agreements with the holders of certain then outstanding promissory and convertible notes in the principal amount of $7,852,000 and related accrued interest of $668,000. The carrying value of the debt at the time of extinguishment was $7,461,000. The aggregate amount owed of $8,520,000 was exchanged into 16,706,000 shares of common stock at $0.51 per share and 15,396,000 warrants to purchase common stock at $0.51 per share. The warrants, which have a cashless exercise feature, are exercisable beginning on the exchange date and expire in 3 years. The Exchange was made in reliance on the exemption from the registration requirements of the Securities Act of 1933 (the “Act”), as amended, provided by Section 3(a)(9) of the Act. All of the common stock issued in the transaction were “restricted securities,” as defined in Rule 144(a)(3), promulgated under the Act. The issued common stock was valued at the closing market price on the exchange date and had an aggregate value of $8,464,000. The fair value of the warrants was estimated at $3,713,000 using the Black-Scholes pricing model and assuming the closing market price of the underlying stock on the exchange date, a risk-free interest rate ranging from 1.5% to 1.7% based on the U.S. Treasury rate then in effect, a 3-year life and an expected volatility of 70%. The combined value of the stock and warrants issued in exchange for the outstanding principal amount was $12,177,000, and the Company recorded a loss on extinguishment of debt of $4,048,000. During March 2020, the Company completed the exchange of two outstanding convertible notes with a principal amount of $434,000 and related accrued interest of $8,000 into 868,000 shares of common stock at $0.51 per share in accordance with exchange agreements entered into in October 2019. The value of the stock issued in the exchange was $35,000, and the Company recorded a gain on extinguishment of debt of $204,000. Also during March 2020, the Company entered into an additional debt restructuring that resulted in the conversion of debt with an aggregate principal amount of $7,492,000 and accrued interest of $691,000 into common stock of the Company. The carrying value of the debt and related derivative liability at the time of extinguishment amounted to $8,341,000. The aggregate total of $8,183,000 was converted into 48,136,000 shares of common stock at $0.17 per share. The combined value of the stock issued in the conversion was $1,869,000, and the Company recorded a gain on extinguishment of debt of $6,472,000. The restructuring also included the settlement of other outstanding claims, that resulted in the issuance of an additional 10,684,000 common shares, of which 10,400,000 shares were attributable to a royalty claim in connection with the September 2019 acquisition of Simply Mac. The $415,000 value of the 10.4 million shares was recorded in other expenses in the Company’s statement of operations for the year ended December 31, 2019 and as an accrued liability at December 31, 2019. During June 2020, the Company issued 804,000 shares of common stock valued at $106,000 to its two outside directors in lieu of payment of accrued director fees, and 278,000 shares of common stock valued at $27,000 to three former executives in lieu of payment of accrued severance. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Aug. 01, 2020 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | NOTE 13. Recent Accounting Pronouncements Recently Adopted: I n January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The purpose of this ASU is to reduce the cost and complexity of evaluating goodwill for impairment. It eliminates the need for entities to calculate the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Under this ASU, an entity will perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit’s fair value. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” which removes, adds and modifies certain disclosure requirements for fair value measurements in Topic 820. ASU 2018-13 removes the following disclosure requirements: (i) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and (ii) the entity’s valuation processes for Level 3 fair value measurements. ASU 2018-13 adds the following disclosure requirements: (i) provide information about the measurement uncertainty of Level 3 fair value measurements as of the reporting date rather than a point in the future, (ii) disclose changes in unrealized gains and losses related to Level 3 measurements for the period included in other comprehensive income, and (iii) disclose for Level 3 measurements the range and weighted average of the significant unobservable inputs and the way it is calculated. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations. Other Accounting Standards Updates not effective until after August 1, 2020 are not expected to have a material effect on the Company’s financial position or results of operations. |
Segments
Segments | 6 Months Ended |
Aug. 01, 2020 | |
Segment Reporting [Abstract] | |
Segments | NOTE 14. Segments The tables below (in thousands) reflect the operating results of the Company’s segments for the reported periods, consistent with the management and measurement system utilized within the Company. The two segments include (1) the Company’s Simply Mac retail stores, and (2) its Cooltech Distribution business. Substantially all segment sales are generated in the United States. Performance measurement of each segment is based on sales, gross profit and operating income (loss). The segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Operating Decision Maker (“CODM”) in determining how to allocate Company resources and evaluate performance. The CODM is a group of Company executives who comprise the management committee, consisting of the Company’s Chief Executive Officer and its Chief Financial Officer. Retail Stores Cooltech Distribution Total Segments 13 weeks ended August 1, 2020: Net sales $ 17,616 $ 34 $ 17,650 Gross profit $ 4,518 $ 11 $ 4,529 Operating loss $ (458 ) $ (71 ) $ (529 ) Three months ended June 30, 2019: Net sales $ 1,342 $ 584 $ 1,926 Gross profit $ 290 $ (11 ) $ 279 Operating loss $ (385 ) $ (359 ) $ (744 ) 26 weeks ended August 1, 2020: Net sales $ 31,455 $ 138 $ 31,593 Gross profit $ 9,002 $ 22 $ 9,024 Operating loss $ (1,129 ) $ (261 ) $ (1,390 ) Six months ended June 30, 2019: Net sales $ 3,000 $ 1,455 $ 4,455 Gross profit $ 646 $ (6 ) $ 640 Operating loss $ (821 ) $ (697 ) $ (1,518 ) Transition Period January 1 to February 1, 2020: Net sales $ 5,281 $ 4 $ 5,285 Gross profit $ 1,498 $ 10 $ 1,508 Operating loss $ (615 ) $ (101 ) $ (716 ) Reconciliation of Operating Loss to Cool Holdings as Reported: 2nd Fiscal Quarter Year-to-Date 13 Weeks Ended August 1, 2020 Three Months Ended June 30, 2019 26 Weeks Ended August 1, 2020 Six Months Ended June 30, 2019 Transition Period January 1 to February 1, 2020 Operating loss: Total reportable segments $ (529 ) $ (744 ) $ (1,390 ) $ (1,518 ) $ (716 ) Unallocated expenses (1,393 ) (3,762 ) (3,163 ) (5,340 ) (134 ) Total consolidated operating loss $ (1,922 ) $ (4,506 ) $ (4,553 ) $ (6,858 ) $ (850 ) |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Aug. 01, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 15. Commitments and Contingencies Leases: The Company leases its retail stores, distribution center and corporate and administrative office facilities under operating lease agreements which expire through June 2027. Stores range in size from small stores of only 1,000 sq.ft. to larger stores of up to 5,200 sq.ft. Store leases typically provide for an initial lease term of three to four years, while certain leases have terms of up to ten years. Certain leases have provisions calling for percentage rent, in addition to base rent, once sales exceed a minimum threshold. However, the Company believes that the minimum thresholds in such leases exceed the level of sales expected to be generated by the stores during the term of the lease. Certain leases also contain renewal options, but such options are not recognized by the Company as part of its right-of-use assets or lease liabilities because the Company does not believe it is reasonably certain it will exercise such options, due to the uncertainty of future store financial performance or the ability of the property to generate sufficient customer traffic. Operating lease expense for the 13 and 26 weeks ended August 1, 2020 was $1,186,000 and $2,439,000, respectively. Operating lease expense for the transition period from January 1, 2020 to February 1, 2020 was $418,000. Operating leases expense for the three and six months ended June 30, 2019 was $297,000 and $593,000, respectively. Supplemental lease information as of August 1, 2020 is as follows ($ in thousands): Operating right of use assets $ 8,674 Current operating lease liabilities $ 2,893 Long-term operating lease liabilities $ 6,003 Weighted-average remaining lease term in years 3.84 Weighted-average discount rate 12 % As of August 1, 2020, maturities of lease liabilities are as follows (in thousands): Years Ending Fiscal January 2021 (remaining six months) $ 2,061 2022 3,267 2023 2,141 2024 1,593 2025 898 Thereafter 1,118 Total lease payments 11,078 Less: interest (2,182 ) Total 8,896 Less: current portion 2,893 Long-term portion $ 6,003 Litigation: The Company has in the past and may in the future become involved in certain legal proceedings and claims which arise in the normal course of business. As of the filing date of this report, the Company did not have any significant litigation outstanding. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Aug. 01, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | NOTE 16. Fair Value of Financial Instruments The Company measures its financial instruments in its financial statements at fair value or amounts that approximate fair value in accordance with ASC 820, “Fair Value Measurements and Disclosure.” ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, not adjusted for transaction costs. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels giving the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are described below: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that is accessible by the Company; Level 2 Inputs – Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly; Level 3 Inputs – Unobservable inputs for the asset or liability including significant assumptions of the Company and other market participants. The Company seeks to measure fair value based upon the lowest level of available input in the fair value hierarchy. When available, the Company uses quoted market prices to measure fair value. If market prices are not available, fair value measurement is based upon models that use primarily market-based or independently-sourced market parameters. If market observable inputs for model-based valuation techniques are not available, the Company makes judgments about assumptions market participants would use in estimating the fair value of the financial instrument. Carrying values of the Company’s short-term notes payable approximate their fair values due to the short-term nature and liquidity of these financial instruments. The Company estimates that the fair value of its notes payable approximates its carrying value based on significant level 2 observable inputs. As discussed in Note 11, in connection with the issuance by the Company during 2019 of certain convertible notes and warrants, as well as the conversion of certain notes into common stock and warrants, the conversion features and warrants were deemed to qualify as derivatives to be separately accounted for in accordance with ASC 815. The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods presented (in thousands): Derivative Liability Balance, December 31, 2018 $ — Initial recognition of conversion features and warrants, October 2019 7,954 Change in fair value of derivative liability (6,233 ) Balance, December 31, 2019 1,721 Change in fair value of derivative liability 806 Balance, February 1, 2020 2,527 Change in fair value of derivative liability (543 ) Extinguishment of derivative liability resulting from debt conversion (1,984 ) Balance, August 1, 2020 $ — |
Acquisition of Simply Mac
Acquisition of Simply Mac | 6 Months Ended |
Aug. 01, 2020 | |
Simply Mac, Inc. [Member] | |
Acquisition | NOTE 17. Acquisition of Simply Mac On May 9, 2019, the Company, Simply Mac and GameStop Corp. (“GameStop” or the “Seller”) entered into a stock purchase agreement, as amended on September 20, 2019 (the “Stock Purchase Agreement”), pursuant to which the Company would purchase from the Seller all of the issued and outstanding shares of capital stock of Simply Mac (the “Stock Purchase”). On September 25, 2019, the Stock Purchase closed and Simply Mac became a wholly-owned subsidiary of the Company. Aggregate consideration for the Stock Purchase amounted to $12,554,000 which consisted of cash consideration of $4,696,000 (comprised of $5,157,000 paid in 2019 less a working capital true-up of $461,000 received subsequent to year-end) and a 12% secured promissory note of $7,858,000. The Company accounted for the Stock Purchase in accordance with the guidance of ASC 805 on business combinations using the acquisition method. In assessing the fair value, the Company did not assume any synergies from combining with Simply Mac, and used the relief-from-royalty method to determine the fair value of the Simply Mac trademark and tradename. Because the purchase of Simply Mac was a stock purchase, none of the implied goodwill of $411,000 is deductible for tax purposes. The purchase price was allocated to the net assets acquired in the transaction as follows (in thousands): Cash $ 12 Accounts receivable 1,367 Inventory 9,145 Other current assets 288 Fixed assets 613 Right-of-use leased assets 3,414 Goodwill 699 Intangibles 2,092 Other assets 44 Accounts payable (401 ) Lease liability (3,430 ) Accrued liabilities (1,289 ) Total $ 12,554 |
Sale of Latin American Subsidia
Sale of Latin American Subsidiaries | 6 Months Ended |
Aug. 01, 2020 | |
Discontinued Operations | NOTE 3. Discontinued Operations During the fourth quarter of 2018, the Company completed the closure of its verykool business segment. Also, as discussed in Note 18, the Company sold OneClick Argentino, its business unit in Argentina, and Verablue Caribbean Group, its business unit in the Dominican Republic, which resulted in losses on sale of $13,000 and $136,000 in the transition period from January 1, 2020 to February 1, 2020 and in the 26 weeks ended August 1, 2020, respectively. Consequently, these business units, plus OneClick International, the wholly owned parent of the two business units, are also reported as discontinued operations in our consolidated financial statements for all periods presented. The results of discontinued operations for the three months ended June 30, 2019 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ — $ — $ 2,102 $ 901 $ 3,003 Cost of sales — 1 1,355 624 1,980 Gross profit (loss) — (1 ) 747 277 1,023 Selling, general and administrative expenses 19 137 739 298 1,193 Operating loss (19 ) (138 ) 8 (21 ) (170 ) Other expense, net (4 ) — (38 ) — (42 ) Loss from discontinued operations before income taxes (23 ) (138 ) (30 ) (21 ) (212 ) Provision for income taxes — — — — - Net loss from discontinued operations $ (23 ) $ (138 ) $ (30 ) $ (21 ) $ (212 ) The results of discontinued operations for the six months ended June 30, 2019 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ 47 $ — $ 3,890 $ 1,808 $ 5,745 Cost of sales 47 12 2,546 1,234 3,839 Gross profit (loss) — (12 ) 1,344 574 1,906 Selling, general and administrative expenses 27 254 1,594 611 2,486 Operating loss (27 ) (266 ) (250 ) (37 ) (580 ) Other income (expense), net 26 (13 ) (220 ) — (207 ) Loss from discontinued operations before income taxes (1 ) (279 ) (470 ) (37 ) (787 ) Provision for income taxes (2 ) — — — (2 ) Net loss from discontinued operations $ (3 ) $ (279 ) $ (470 ) $ (37 ) $ (789 ) The results of discontinued operations for the transition period from January 1, 2020 to February 1, 2020 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ — $ — $ 821 $ 334 $ 1,155 Cost of sales 8 — 544 223 775 Gross profit (loss) (8 ) — 277 111 380 Selling, general and administrative expenses 2 1 203 81 287 Operating loss (10 ) (1 ) 74 30 93 Other income (expense), net — — (21 ) (6 ) (27 ) Loss from discontinued operations before income taxes (10 ) (1 ) 53 24 66 Provision for income taxes — — — — — Net income from discontinued operations $ (10 ) $ (1 ) $ 53 $ 24 $ 66 There were no results of discontinued operations for the 13 weeks ended August 1, 2020. The results of discontinued operations for the 26 weeks ended August 1, 2020 are as follows (in thousands): Verykool Verablue Caribbean TOTAL Net sales $ — $ 407 $ 407 Cost of sales — 319 319 Gross profit (loss) — 88 88 Selling, general and administrative expenses 6 192 198 Operating loss (6 ) (104 ) (110 ) Other income (expense), net 3 (129 ) (126 ) Loss from discontinued operations before income taxes (3 ) (233 ) (236 ) Provision for income taxes — — — Net loss from discontinued operations $ (3 ) $ (233 ) $ (236 ) |
Latin American Subsidiaries [Member] | |
Discontinued Operations | NOTE 18. Sale of Latin American Subsidiaries On January 31, 2020, the Company entered into a definitive agreement with two employees of the Company to sell all of its ownership interest in OneClick Argentino S.R.L., the Company’s subsidiary that operated 6 retail electronics stores in Argentina. The purchase price to the buyers was the assumption of all liabilities of the Argentinian subsidiary, including $321,000 of debt owed to two major distribution suppliers. OneClick Argentino S.R.L. has been classified as a discontinued operation in the Company’s consolidated financial statements for all periods presented. On April 6, 2020, the Company entered into a definitive agreement with an employee of the Company to sell all of its ownership interest in Verablue Caribbean Group, S.R.L. (“Verablue”), the Company’s subsidiary that operated 7 retail electronics stores in in the Dominican Republic. The buyers assumed all liabilities of Verablue, and agreed to pay the Company $100,000 in additional consideration, evidenced by a 6-month installment promissory note. Verablue has also been classified as a discontinued operation in the Company’s consolidated financial statements for all periods presented |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Policies) | 6 Months Ended |
Aug. 01, 2020 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Adopted | Recently Adopted: I n January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The purpose of this ASU is to reduce the cost and complexity of evaluating goodwill for impairment. It eliminates the need for entities to calculate the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Under this ASU, an entity will perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit’s fair value. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” which removes, adds and modifies certain disclosure requirements for fair value measurements in Topic 820. ASU 2018-13 removes the following disclosure requirements: (i) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and (ii) the entity’s valuation processes for Level 3 fair value measurements. ASU 2018-13 adds the following disclosure requirements: (i) provide information about the measurement uncertainty of Level 3 fair value measurements as of the reporting date rather than a point in the future, (ii) disclose changes in unrealized gains and losses related to Level 3 measurements for the period included in other comprehensive income, and (iii) disclose for Level 3 measurements the range and weighted average of the significant unobservable inputs and the way it is calculated. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations. Other Accounting Standards Updates not effective until after August 1, 2020 are not expected to have a material effect on the Company’s financial position or results of operations. |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Results of Discontinued Operations, Assets and Liabilities of Discontinued Operations | The results of discontinued operations for the three months ended June 30, 2019 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ — $ — $ 2,102 $ 901 $ 3,003 Cost of sales — 1 1,355 624 1,980 Gross profit (loss) — (1 ) 747 277 1,023 Selling, general and administrative expenses 19 137 739 298 1,193 Operating loss (19 ) (138 ) 8 (21 ) (170 ) Other expense, net (4 ) — (38 ) — (42 ) Loss from discontinued operations before income taxes (23 ) (138 ) (30 ) (21 ) (212 ) Provision for income taxes — — — — - Net loss from discontinued operations $ (23 ) $ (138 ) $ (30 ) $ (21 ) $ (212 ) The results of discontinued operations for the six months ended June 30, 2019 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ 47 $ — $ 3,890 $ 1,808 $ 5,745 Cost of sales 47 12 2,546 1,234 3,839 Gross profit (loss) — (12 ) 1,344 574 1,906 Selling, general and administrative expenses 27 254 1,594 611 2,486 Operating loss (27 ) (266 ) (250 ) (37 ) (580 ) Other income (expense), net 26 (13 ) (220 ) — (207 ) Loss from discontinued operations before income taxes (1 ) (279 ) (470 ) (37 ) (787 ) Provision for income taxes (2 ) — — — (2 ) Net loss from discontinued operations $ (3 ) $ (279 ) $ (470 ) $ (37 ) $ (789 ) The results of discontinued operations for the transition period from January 1, 2020 to February 1, 2020 are as follows (in thousands): Verykool OneClick International OneClick Argentino Verablue Caribbean TOTAL Net sales $ — $ — $ 821 $ 334 $ 1,155 Cost of sales 8 — 544 223 775 Gross profit (loss) (8 ) — 277 111 380 Selling, general and administrative expenses 2 1 203 81 287 Operating loss (10 ) (1 ) 74 30 93 Other income (expense), net — — (21 ) (6 ) (27 ) Loss from discontinued operations before income taxes (10 ) (1 ) 53 24 66 Provision for income taxes — — — — — Net income from discontinued operations $ (10 ) $ (1 ) $ 53 $ 24 $ 66 There were no results of discontinued operations for the 13 weeks ended August 1, 2020. The results of discontinued operations for the 26 weeks ended August 1, 2020 are as follows (in thousands): Verykool Verablue Caribbean TOTAL Net sales $ — $ 407 $ 407 Cost of sales — 319 319 Gross profit (loss) — 88 88 Selling, general and administrative expenses 6 192 198 Operating loss (6 ) (104 ) (110 ) Other income (expense), net 3 (129 ) (126 ) Loss from discontinued operations before income taxes (3 ) (233 ) (236 ) Provision for income taxes — — — Net loss from discontinued operations $ (3 ) $ (233 ) $ (236 ) |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Equity [Abstract] | |
Summary of Option Activity | A summary of option activity under the 201 Plan as of August 1, 2020 and changes during the 26 weeks then ended is presented in the table below (shares in thousands): Shares Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life in Years Outstanding at February 1, 2020 2 $ 34.540 0.62 Granted 1,800 $ 0.132 4.84 Exercised — — — Expired/Forfeited — — — Outstanding at August 1, 2020 1,802 $ 0.169 4.83 Vested and expected to vest 1,802 $ 0.169 4.83 Exercisable at August 1, 2020 1,082 $ 0.194 4.83 Non-vested at August 1, 2020 (a) 720 $ 0.132 4.83 (a) Weighted average grant-date fair value is $0.08 per share. |
Property and Equipment (Tables)
Property and Equipment (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Property Plant And Equipment [Abstract] | |
Summary of Property and Equipment | Property and equipment, all located in the United States, consisted of the following as of the dates presented (in thousands): August 1, 2020 December 31, 2019 February 1, 2020 (unaudited) (unaudited) Machinery and equipment $ 193 $ 224 $ 225 Furniture and fixtures 400 371 371 Leasehold improvements 903 872 872 Subtotal 1,496 1,467 1,468 Less accumulated depreciation (894 ) (609 ) (660 ) Total $ 602 $ 858 $ 808 |
Intangible Asset and Goodwill (
Intangible Asset and Goodwill (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Definite-Lived Intangible Assets Arose From Simply Mac Acquisition | The carrying value of the intangible asset consisted of the following as of the dates presented (in thousands): August 1, 2020 December 31, 2019 February 1, 2020 (unaudited) (unaudited) Simply Mac Tradename $ 2,092 $ 2,092 $ 2,092 Less accumulated amortization (118 ) (37 ) (48 ) Total $ 1,974 $ 2,055 $ 2,044 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Payables And Accruals [Abstract] | |
Schedule of Accrued Expenses | Accrued expenses consisted of the following as of the dates presented (in thousands): August 1, 2020 (unaudited) December 31, 2019 February 1, 2020 (unaudited) Accrued compensation (wages, benefits, severance, vacation) $ 1,162 $ 1,421 $ 1,457 Customer deposits and overpayments 300 152 154 Accrued product costs — 430 199 Accrued interest 113 798 1,315 Accrued sales tax 604 915 711 Accrued income taxes 220 220 220 Other accruals 402 1,472 1,230 Total $ 2,801 $ 5,408 $ 5,286 |
Notes Payable (Tables)
Notes Payable (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Notes payable consisted of the following as of the dates presented (in thousands): August 1, 2020 (unaudited) December 31, 2019 February 1, 2020 (unaudited) 0% convertible note due January 2021 $ — $ 91 $ 91 6% promissory note due December 2020 500 500 500 12% convertible notes due October 2019 — 1,775 1,775 12% convertible notes due November 2019 — 400 400 12% convertible notes due May 2020 — 1,500 1,500 12% convertible notes due July, August and September 2020 — 4,235 4,235 12% secured promissory note due September 2020 — 7,858 7,858 6% promissory note due February 2024 1,250 — — 1% promissory note due April 2022 3,098 — — Total face amount 4,848 16,359 16,359 Unamortized discount — (3,047 ) (2,674 ) Total carrying value 4,848 13,312 13,685 Amount classified as current 2,049 13,227 13,685 Amount classified as long-term $ 2,799 $ 85 $ — |
Segments (Tables)
Segments (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Segment Reporting [Abstract] | |
Schedule of Operating Results of Segments | The tables below (in thousands) reflect the operating results of the Company’s segments for the reported periods, consistent with the management and measurement system utilized within the Company. Retail Stores Cooltech Distribution Total Segments 13 weeks ended August 1, 2020: Net sales $ 17,616 $ 34 $ 17,650 Gross profit $ 4,518 $ 11 $ 4,529 Operating loss $ (458 ) $ (71 ) $ (529 ) Three months ended June 30, 2019: Net sales $ 1,342 $ 584 $ 1,926 Gross profit $ 290 $ (11 ) $ 279 Operating loss $ (385 ) $ (359 ) $ (744 ) 26 weeks ended August 1, 2020: Net sales $ 31,455 $ 138 $ 31,593 Gross profit $ 9,002 $ 22 $ 9,024 Operating loss $ (1,129 ) $ (261 ) $ (1,390 ) Six months ended June 30, 2019: Net sales $ 3,000 $ 1,455 $ 4,455 Gross profit $ 646 $ (6 ) $ 640 Operating loss $ (821 ) $ (697 ) $ (1,518 ) Transition Period January 1 to February 1, 2020: Net sales $ 5,281 $ 4 $ 5,285 Gross profit $ 1,498 $ 10 $ 1,508 Operating loss $ (615 ) $ (101 ) $ (716 ) Reconciliation of Operating Loss to Cool Holdings as Reported: 2nd Fiscal Quarter Year-to-Date 13 Weeks Ended August 1, 2020 Three Months Ended June 30, 2019 26 Weeks Ended August 1, 2020 Six Months Ended June 30, 2019 Transition Period January 1 to February 1, 2020 Operating loss: Total reportable segments $ (529 ) $ (744 ) $ (1,390 ) $ (1,518 ) $ (716 ) Unallocated expenses (1,393 ) (3,762 ) (3,163 ) (5,340 ) (134 ) Total consolidated operating loss $ (1,922 ) $ (4,506 ) $ (4,553 ) $ (6,858 ) $ (850 ) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Leases [Abstract] | |
Schedule of Supplemental Lease Information | Supplemental lease information as of August 1, 2020 is as follows ($ in thousands): Operating right of use assets $ 8,674 Current operating lease liabilities $ 2,893 Long-term operating lease liabilities $ 6,003 Weighted-average remaining lease term in years 3.84 Weighted-average discount rate 12 % |
Schedule of Maturities of Operating Lease Liabilities | As of August 1, 2020, maturities of lease liabilities are as follows (in thousands): Years Ending Fiscal January 2021 (remaining six months) $ 2,061 2022 3,267 2023 2,141 2024 1,593 2025 898 Thereafter 1,118 Total lease payments 11,078 Less: interest (2,182 ) Total 8,896 Less: current portion 2,893 Long-term portion $ 6,003 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Assets and Liabilities Measured at Fair Value | The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods presented (in thousands): Derivative Liability Balance, December 31, 2018 $ — Initial recognition of conversion features and warrants, October 2019 7,954 Change in fair value of derivative liability (6,233 ) Balance, December 31, 2019 1,721 Change in fair value of derivative liability 806 Balance, February 1, 2020 2,527 Change in fair value of derivative liability (543 ) Extinguishment of derivative liability resulting from debt conversion (1,984 ) Balance, August 1, 2020 $ — |
Acquisition of Simply Mac (Tabl
Acquisition of Simply Mac (Tables) | 6 Months Ended |
Aug. 01, 2020 | |
Simply Mac, Inc. [Member] | |
Business Acquisition [Line Items] | |
Summary of Purchase Price Allocated to Net Assets Acquired in Transaction | The purchase price was allocated to the net assets acquired in the transaction as follows (in thousands): Cash $ 12 Accounts receivable 1,367 Inventory 9,145 Other current assets 288 Fixed assets 613 Right-of-use leased assets 3,414 Goodwill 699 Intangibles 2,092 Other assets 44 Accounts payable (401 ) Lease liability (3,430 ) Accrued liabilities (1,289 ) Total $ 12,554 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | 1 Months Ended | |||||||
Mar. 31, 2020USD ($) | Oct. 31, 2019USD ($) | Aug. 01, 2020USD ($) | Apr. 06, 2020Store | Feb. 01, 2020USD ($) | Jan. 31, 2020Store | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | |
Basis Of Presentation [Line Items] | ||||||||
Notes payable, outstanding amount | $ 1,800,000 | $ 4,848,000 | $ 16,359,000 | $ 16,359,000 | $ 24,200,000 | |||
Debt conversion, principal amount | 7,492,000 | $ 7,800,000 | ||||||
Debt instrument, decrease, forgiveness and conversion of common stock | $ 14,600,000 | |||||||
OneClick Argentino S.R.L [Member] | Argentina [Member] | ||||||||
Basis Of Presentation [Line Items] | ||||||||
Number of retail electronics stores sold | Store | 6 | |||||||
Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | Dominican Republic [Member] | ||||||||
Basis Of Presentation [Line Items] | ||||||||
Number of retail electronics stores sold | Store | 7 |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020USD ($) | Aug. 01, 2020USD ($) | Jun. 30, 2019USD ($) | Aug. 01, 2020USD ($)BusinessUnit | Jun. 30, 2019USD ($) | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Income (loss) from discontinued operations | $ 66,000 | $ 0 | $ (212,000) | $ (236,000) | $ (789,000) |
OneClick Argentino and Verablue Caribbean [Member] | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Loss on sale of business units | (13,000) | $ (136,000) | |||
OneClick International [Member] | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Number of business units | BusinessUnit | 2 | ||||
Income (loss) from discontinued operations | $ (1,000) | $ (138,000) | $ (279,000) |
Discontinued Operations - Resul
Discontinued Operations - Results of Discontinued Operations (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Net sales | $ 1,155,000 | $ 3,003,000 | $ 407,000 | $ 5,745,000 | |
Cost of sales | 775,000 | 1,980,000 | 319,000 | 3,839,000 | |
Gross profit (loss) | 380,000 | 1,023,000 | 88,000 | 1,906,000 | |
Selling, general and administrative expenses | 287,000 | 1,193,000 | 198,000 | 2,486,000 | |
Operating loss | 93,000 | (170,000) | (110,000) | (580,000) | |
Other income (expense), net | (27,000) | (42,000) | (126,000) | (207,000) | |
Loss from discontinued operations before income taxes | 66,000 | (212,000) | (236,000) | (787,000) | |
Provision for income taxes | (2,000) | ||||
Net income (loss) from discontinued operations | 66,000 | $ 0 | (212,000) | (236,000) | (789,000) |
Loss from discontinued operations before income taxes | 66,000 | (212,000) | (236,000) | (787,000) | |
Verykool [Member] | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Net sales | 47,000 | ||||
Cost of sales | 8,000 | 47,000 | |||
Gross profit (loss) | (8,000) | ||||
Selling, general and administrative expenses | 2,000 | 19,000 | 6,000 | 27,000 | |
Operating loss | (10,000) | (19,000) | (6,000) | (27,000) | |
Other income (expense), net | (4,000) | 3,000 | 26,000 | ||
Loss from discontinued operations before income taxes | (10,000) | (23,000) | (3,000) | (1,000) | |
Provision for income taxes | (2,000) | ||||
Net income (loss) from discontinued operations | (10,000) | (23,000) | (3,000) | (3,000) | |
Loss from discontinued operations before income taxes | (10,000) | (23,000) | (3,000) | (1,000) | |
OneClick International [Member] | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Cost of sales | 1,000 | 12,000 | |||
Gross profit (loss) | (1,000) | (12,000) | |||
Selling, general and administrative expenses | 1,000 | 137,000 | 254,000 | ||
Operating loss | (1,000) | (138,000) | (266,000) | ||
Other income (expense), net | (13,000) | ||||
Loss from discontinued operations before income taxes | (1,000) | (138,000) | (279,000) | ||
Net income (loss) from discontinued operations | (1,000) | (138,000) | (279,000) | ||
Loss from discontinued operations before income taxes | (1,000) | (138,000) | (279,000) | ||
OneClick Argentino [Member] | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Net sales | 821,000 | 2,102,000 | 3,890,000 | ||
Cost of sales | 544,000 | 1,355,000 | 2,546,000 | ||
Gross profit (loss) | 277,000 | 747,000 | 1,344,000 | ||
Selling, general and administrative expenses | 203,000 | 739,000 | 1,594,000 | ||
Operating loss | 74,000 | 8,000 | (250,000) | ||
Other income (expense), net | (21,000) | (38,000) | (220,000) | ||
Loss from discontinued operations before income taxes | 53,000 | (30,000) | (470,000) | ||
Net income (loss) from discontinued operations | 53,000 | (30,000) | (470,000) | ||
Loss from discontinued operations before income taxes | 53,000 | (30,000) | (470,000) | ||
Verablue Caribbean [Member] | |||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||
Net sales | 334,000 | 901,000 | 407,000 | 1,808,000 | |
Cost of sales | 223,000 | 624,000 | 319,000 | 1,234,000 | |
Gross profit (loss) | 111,000 | 277,000 | 88,000 | 574,000 | |
Selling, general and administrative expenses | 81,000 | 298,000 | 192,000 | 611,000 | |
Operating loss | 30,000 | (21,000) | (104,000) | (37,000) | |
Other income (expense), net | (6,000) | (129,000) | |||
Loss from discontinued operations before income taxes | 24,000 | (21,000) | (233,000) | (37,000) | |
Net income (loss) from discontinued operations | 24,000 | (21,000) | (233,000) | (37,000) | |
Loss from discontinued operations before income taxes | $ 24,000 | $ (21,000) | $ (233,000) | $ (37,000) |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | 1 Months Ended | 6 Months Ended | |||||
Jun. 30, 2020 | Mar. 31, 2020 | Feb. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | May 02, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares outstanding under equity incentive plans | 2,000 | 1,802,000 | |||||
Stock-based compensation expense | $ 649,000 | ||||||
Stock options granted under equity incentive plans | 1,800,000 | ||||||
Stock issued during period, values | $ 216,000 | ||||||
Reduction in value of warrants | 89,000 | ||||||
Compensation expense | $ 127,000 | ||||||
Expected life | 5 years | ||||||
Risk-free interest rate, minimum | 0.20% | ||||||
Risk-free interest rate, maximum | 0.30% | ||||||
Expected dividend yield | 0.00% | ||||||
Common Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares granted | 10,684,000 | ||||||
Expected annualized volatility rate | 95.00% | ||||||
Immediate Vesting Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Expected life | 2 years 6 months | ||||||
Graded Vested Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Expected life | 3 years 3 months 14 days | ||||||
Termination of Chief Financial Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares granted | 53,571 | ||||||
Number of shares granted, value | $ 108,000 | ||||||
Directors and Employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares granted | 600,000 | ||||||
Number of shares granted, value | $ 1,560,000 | ||||||
Stock-based compensation expense | $ 1,750,000 | ||||||
Employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of restricted shares granted | 100,000 | ||||||
Total value of restricted stock award | $ 260,000 | ||||||
Stock options granted under equity incentive plans | 1,800,000 | ||||||
Board of Directors [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares granted | 2,950,000 | ||||||
Number of shares granted, value | $ 390,000 | ||||||
Board of Directors [Member] | Common Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares granted | 804,000,000 | ||||||
Number of shares granted, value | $ 106,000 | ||||||
Restricted Stock Award [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 7,000 | $ 53,000 | |||||
Restricted Stock Award [Member] | Termination of Chief Financial Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares vested in period | 26,667 | ||||||
Number of shares vested in period, value | $ 69,000 | ||||||
Restricted Stock Award [Member] | Employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares granted, vesting period | 2 years | ||||||
Unregistered Shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock issued during period, shares | 3,000,000 | ||||||
Reduction of warrants | 3,000,000 | ||||||
Stock Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 79,000 | ||||||
2015 Equity Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares outstanding under equity incentive plans | 1,802,000 | ||||||
Common stock available for future issuance | 2,153,000 | ||||||
Stock options granted under equity incentive plans | 0 | ||||||
2015 Equity Incentive Plan [Member] | Restricted Stock Award [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares outstanding under unvested restricted shares | 33,000 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Option Activity (Detail) - $ / shares | 1 Months Ended | 6 Months Ended |
Feb. 01, 2020 | Aug. 01, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Shares, Outstanding, Beginning balance | 2,000 | |
Shares, Granted | 1,800,000 | |
Shares, Outstanding, Ending balance | 2,000 | 1,802,000 |
Shares, Vested and expected to vest | 1,802,000 | |
Shares, Exercisable | 1,082,000 | |
Shares, Non-vested | 720,000 | |
Wtd. Avg. Exercise Price, Outstanding, Beginning balance | $ 34.540 | |
Wtd. Avg. Exercise Price, Granted | 0.132 | |
Wtd. Avg. Exercise Price, Outstanding, Ending balance | $ 34.540 | 0.169 |
Wtd. Avg. Exercise Price, Vested and expected to vest | 0.169 | |
Wtd. Avg. Exercise Price, Exercisable | 0.194 | |
Wtd. Avg. Exercise Price, Non-vested | $ 0.132 | |
Wtd. Avg. Remaining Contractual Life in Years, Outstanding | 7 months 13 days | 4 years 9 months 29 days |
Wtd. Avg. Remaining Contractual Life in Years, Granted | 4 years 10 months 2 days | |
Wtd. Avg. Remaining Contractual Life in Years, Vested and expected to vest | 4 years 9 months 29 days | |
Wtd. Avg. Remaining Contractual Life in Years, Exercisable | 4 years 9 months 29 days | |
Wtd. Avg. Remaining Contractual Life in Years, Non-vested | 4 years 9 months 29 days |
Stock-Based Compensation - Su_2
Stock-Based Compensation - Summary of Option Activity (Parenthetical) (Detail) | 6 Months Ended |
Aug. 01, 2020$ / shares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Non-vested, Weighted average grant-date fair value | $ 0.08 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Anti-dilutive securities excluded from computation of earnings per share | 21,282,000 | 22,929,000 | 5,598,000 | 22,929,000 | 5,598,000 |
In The Money Warrants [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Anti-dilutive securities excluded from computation of earnings per share | 2,458,000 | ||||
In The Money Warrants And Preferred Shares [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Anti-dilutive securities excluded from computation of earnings per share | 10,025,000 | 7,025,000 | 415,000 | 415,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 6 Months Ended | ||
Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 | |
Income Tax Contingency [Line Items] | |||
Cumulative effect on retained deficit | $ (51,835,000) | $ (60,196,000) | $ (58,073,000) |
Unrecognized tax benefits | $ 0 | ||
Earliest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Open tax year | 2014 | ||
Latest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Open tax year | 2019 | ||
Cumulative Effect Period of Adoption Adjustment [Member] | Restatement Adjustment [Member] | |||
Income Tax Contingency [Line Items] | |||
Cumulative effect on retained deficit | $ 0 |
Inventory - Additional Informat
Inventory - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | |
Inventory Disclosure [Abstract] | |||||
Inventory net of write-downs | $ 41,000 | $ 55,000 | $ 65,000 | $ 101,000 | $ 79,000 |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 1,496 | $ 1,468 | $ 1,467 |
Less accumulated depreciation | (894) | (660) | (609) |
Total | 602 | 808 | 858 |
Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 193 | 225 | 224 |
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 400 | 371 | 371 |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 903 | $ 872 | $ 872 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | |
Property Plant And Equipment [Abstract] | |||||
Depreciation and amortization expense | $ 51 | $ 127 | $ 64 | $ 272 | $ 127 |
Intangible Asset and Goodwill -
Intangible Asset and Goodwill - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Aug. 01, 2020 | Dec. 31, 2019 | Sep. 25, 2019 | |
Acquired Finite Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 699,000 | $ 699,000 | $ 699,000 | $ 699,000 | |
Simply Mac, Inc. [Member] | |||||
Acquired Finite Lived Intangible Assets [Line Items] | |||||
Amortization expense | 11,000,000 | 35,000,000 | 70,000,000 | ||
Goodwill | $ 699,000 | $ 699,000 | $ 699,000 | $ 699,000 | $ 699,000 |
Simply Mac, Inc. [Member] | Tradenames [Member] | |||||
Acquired Finite Lived Intangible Assets [Line Items] | |||||
Amortization period | 15 years |
Intangible Asset and Goodwill_2
Intangible Asset and Goodwill - Summary of Definite-Lived Intangible Assets Arose From Acquisition (Detail) - Simply Mac, Inc. [Member] - USD ($) $ in Thousands | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 |
Acquired Finite Lived Intangible Assets [Line Items] | |||
Simply Mac Tradename | $ 2,092 | $ 2,092 | $ 2,092 |
Less accumulated amortization | (118) | (48) | (37) |
Total | $ 1,974 | $ 2,044 | $ 2,055 |
Accrued Expenses - Schedule of
Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 |
Payables And Accruals [Abstract] | |||
Accrued compensation (wages, benefits, severance, vacation) | $ 1,162 | $ 1,457 | $ 1,421 |
Customer deposits and overpayments | 300 | 154 | 152 |
Accrued product costs | 199 | 430 | |
Accrued interest | 113 | 1,315 | 798 |
Accrued sales tax | 604 | 711 | 915 |
Accrued income taxes | 220 | 220 | 220 |
Other accruals | 402 | 1,230 | 1,472 |
Total | $ 2,801 | $ 5,286 | $ 5,408 |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Detail) - USD ($) | Aug. 01, 2020 | May 02, 2020 | Mar. 31, 2020 | Feb. 01, 2020 | Dec. 31, 2019 | Oct. 31, 2019 | Sep. 30, 2019 | May 31, 2019 | Nov. 30, 2018 | Oct. 31, 2018 | Jan. 31, 2018 |
Debt Instrument [Line Items] | |||||||||||
Total face amount | $ 4,848,000 | $ 1,800,000 | $ 16,359,000 | $ 16,359,000 | $ 24,200,000 | ||||||
Unamortized discount | (2,674,000) | (3,047,000) | $ (271,000) | ||||||||
Total carrying value | 4,848,000 | 13,685,000 | 13,312,000 | ||||||||
Amount classified as current | 2,049,000 | 13,685,000 | 13,227,000 | ||||||||
Amount classified as long-term | 2,799,000 | 85,000 | |||||||||
0% Convertible Note Due January 2021 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | 91,000 | 91,000 | |||||||||
6% Promissory Note Due December 2020 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | 500,000 | 500,000 | 500,000 | ||||||||
12% Convertible Notes Due October 2019 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | 1,775,000 | 1,775,000 | |||||||||
Unamortized discount | $ (1,942,000) | ||||||||||
12% Convertible Notes Due November 2019 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | 400,000 | 400,000 | $ 400,000 | ||||||||
Unamortized discount | $ (118,000) | ||||||||||
12% Convertible Notes Due May 2020 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | 1,500,000 | 1,500,000 | |||||||||
Unamortized discount | $ (940,000) | ||||||||||
12% Convertible Notes Due July, August and September 2020 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | 4,235,000 | 4,235,000 | 4,235,000 | ||||||||
Unamortized discount | $ (4,368,000) | $ (4,368,000) | |||||||||
12% Secured Promissory Note Due September 2020 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | $ 7,858,000 | $ 7,858,000 | |||||||||
6% Promissory Note Due February 2024 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | 1,250,000 | ||||||||||
1% Promissory Note Due April 2022 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Total face amount | $ 3,098,000 |
Notes Payable - Schedule of N_2
Notes Payable - Schedule of Notes Payable (Parenthetical) (Detail) - Notes Payable [Member] | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Feb. 01, 2020 | Aug. 01, 2020 | Dec. 31, 2019 | |
0% Convertible Note Due January 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 0.00% | 0.00% | 0.00% |
Notes payable, maturity date | Jan. 31, 2021 | Jan. 31, 2021 | Jan. 31, 2021 |
6% Promissory Note Due December 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 6.00% | 6.00% | 6.00% |
Notes payable, maturity date | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2020 |
12% Convertible Notes Due October 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% |
Notes payable, maturity date | Oct. 31, 2019 | Oct. 31, 2019 | Oct. 31, 2019 |
12% Convertible Notes Due November 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% |
Notes payable, maturity date | Nov. 30, 2019 | Nov. 30, 2019 | Nov. 30, 2019 |
12% Convertible Notes Due May 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% |
Notes payable, maturity date | May 31, 2020 | May 31, 2020 | May 31, 2020 |
12% Convertible Notes Due July 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% |
Notes payable, maturity date | Jul. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2020 |
12% Convertible Notes Due August 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% |
Notes payable, maturity date | Aug. 31, 2020 | Aug. 31, 2020 | Aug. 31, 2020 |
12% Convertible Notes Due September 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% |
Notes payable, maturity date | Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2020 |
12% Secured Promissory Note Due September 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% |
Notes payable, maturity date | Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2020 |
6% Promissory Note Due February 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 6.00% | 6.00% | 6.00% |
Notes payable, maturity date | Feb. 29, 2024 | Feb. 29, 2024 | Feb. 29, 2024 |
1% Promissory Note Due April 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable, interest rate | 1.00% | 1.00% | 1.00% |
Notes payable, maturity date | Apr. 30, 2022 | Apr. 30, 2022 | Apr. 30, 2022 |
Notes Payable - Additional Info
Notes Payable - Additional Information (Detail) | Apr. 16, 2020USD ($) | Mar. 11, 2020USD ($) | Sep. 25, 2019USD ($)Installment | Aug. 15, 2018USD ($) | Jan. 31, 2018USD ($)$ / sharesshares | Mar. 31, 2020USD ($) | Feb. 01, 2020USD ($) | Oct. 31, 2019USD ($) | May 31, 2019USD ($)$ / sharesshares | Nov. 30, 2018USD ($)$ / sharesshares | Oct. 31, 2018USD ($)$ / sharesshares | Sep. 30, 2018USD ($)PromissoryNote | Apr. 30, 2018USD ($) | Aug. 01, 2020USD ($) | May 02, 2020USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Aug. 01, 2020USD ($) | May 02, 2020USD ($) | Jun. 30, 2019USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) |
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes converted into shares of common stock | shares | 570,287 | |||||||||||||||||||||
Warrants exercisable into shares of common stock | shares | 570,287 | |||||||||||||||||||||
Exercise price of warrants, per share | $ / shares | $ 9.15 | |||||||||||||||||||||
Amortization of debt discount | $ 271,000 | $ 2,674,000 | $ 3,047,000 | |||||||||||||||||||
Amortization period of interest expense | 3 years | |||||||||||||||||||||
Notes payable, outstanding amount | $ 1,800,000 | 16,359,000 | $ 4,848,000 | $ 24,200,000 | $ 4,848,000 | $ 24,200,000 | 16,359,000 | |||||||||||||||
(Loss) gain on debt conversion | 13,642,000 | $ (9,000) | ||||||||||||||||||||
Accretion of discount | 373,000 | 666,000 | 1,159,000 | |||||||||||||||||||
Interest expense | 532,000 | 36,000 | $ 902,000 | 960,000 | 1,630,000 | |||||||||||||||||
Derivative liability | 2,527,000 | 1,721,000 | ||||||||||||||||||||
Increase decrease in derivative liability | (807,000) | $ 543,000 | ||||||||||||||||||||
Paycheck Protection Program [Member] | CARES Act [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 1.00% | |||||||||||||||||||||
Notes payable, issued amount | $ 3,098,000 | |||||||||||||||||||||
Notes payable, amount | $ 0 | |||||||||||||||||||||
Note payable, frequency of periodic payment | unforgiven loan balance is payable in equal monthly instalments beginning in the 7th month through the date of maturity | |||||||||||||||||||||
Bank loan maturity term | 2 years | |||||||||||||||||||||
Notes payable, forgiveness maximum percentage attributable to non payroll cost | 40.00% | |||||||||||||||||||||
Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Interest expense | 158,000 | $ 35,000 | 901,000 | $ 291,000 | 1,629,000 | |||||||||||||||||
Notes Payable [Member] | Termination Agreement [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Debt instrument, periodic payment | $ 27,929 | |||||||||||||||||||||
Notes payable, amount | $ 335,152 | |||||||||||||||||||||
Note payable, frequency of periodic payment | twelve equal monthly installments | |||||||||||||||||||||
Notes payable, first monthly installment due date | Apr. 30, 2020 | |||||||||||||||||||||
Notes Payable [Member] | Simply Mac, Inc. [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
(Loss) gain on debt conversion | $ 6,961,000 | |||||||||||||||||||||
Notes payable, onetime cash payment | 250,000 | |||||||||||||||||||||
Escrow deposit disbursements | $ 345,000 | |||||||||||||||||||||
4.02% Promissory Note Due April 2021 [Member] | Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 6.00% | 4.02% | ||||||||||||||||||||
Aggregate principal amount of converted notes to common stock | $ 204,000 | |||||||||||||||||||||
Notes payable, outstanding amount | 704,000 | $ 500,000 | $ 500,000 | |||||||||||||||||||
Notes payable, issued amount | $ 1,000,000 | |||||||||||||||||||||
Notes payable, maturity date | Apr. 30, 2021 | Dec. 31, 2020 | ||||||||||||||||||||
8% Promissory Notes Due March 2021 [Member] | Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 8.00% | |||||||||||||||||||||
Notes payable, issued amount | $ 2,107,000 | |||||||||||||||||||||
Notes payable, maturity date | Mar. 31, 2021 | |||||||||||||||||||||
Number of promissory notes | PromissoryNote | 12 | |||||||||||||||||||||
12% Convertible Notes Due October 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes converted into shares of common stock | shares | 941,181 | |||||||||||||||||||||
Warrants exercisable into shares of common stock | shares | 470,592 | |||||||||||||||||||||
Exercise price of warrants, per share | $ / shares | $ 4.25 | |||||||||||||||||||||
Amortization of debt discount | $ 1,942,000 | |||||||||||||||||||||
Amortization period of interest expense | 1 year | |||||||||||||||||||||
Notes payable, outstanding amount | $ 1,775,000 | $ 1,775,000 | ||||||||||||||||||||
12% Convertible Notes Due October 2019 [Member] | Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% | 12.00% | ||||||||||||||||||
Notes payable, maturity date | Oct. 31, 2019 | Oct. 31, 2019 | Oct. 31, 2019 | |||||||||||||||||||
12% Convertible Notes Due November 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes converted into shares of common stock | shares | 277,274 | |||||||||||||||||||||
Warrants exercisable into shares of common stock | shares | 138,638 | |||||||||||||||||||||
Exercise price of warrants, per share | $ / shares | $ 4.40 | |||||||||||||||||||||
Amortization of debt discount | $ 118,000 | |||||||||||||||||||||
Amortization period of interest expense | 1 year | |||||||||||||||||||||
Aggregate principal amount of converted notes to common stock | 820,000 | |||||||||||||||||||||
Notes payable, outstanding amount | $ 400,000 | 400,000 | $ 400,000 | |||||||||||||||||||
(Loss) gain on debt conversion | (5,000) | |||||||||||||||||||||
Accretion of discount | 59,000 | |||||||||||||||||||||
12% Convertible Notes Due November 2019 [Member] | Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% | 12.00% | ||||||||||||||||||
Notes payable, maturity date | Nov. 30, 2019 | Nov. 30, 2019 | Nov. 30, 2019 | |||||||||||||||||||
12% Convertible Notes Due May 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes converted into shares of common stock | shares | 1,258,996 | |||||||||||||||||||||
Warrants exercisable into shares of common stock | shares | 629,500 | |||||||||||||||||||||
Exercise price of warrants, per share | $ / shares | $ 2.72 | |||||||||||||||||||||
Amortization of debt discount | $ 940,000 | |||||||||||||||||||||
Amortization period of interest expense | 1 year | |||||||||||||||||||||
Notes payable, outstanding amount | $ 1,500,000 | $ 1,500,000 | ||||||||||||||||||||
Accretion of discount | 117,000 | 117,000 | ||||||||||||||||||||
12% Convertible Notes Due May 2020 [Member] | Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% | 12.00% | ||||||||||||||||||
Notes payable, maturity date | May 31, 2020 | May 31, 2020 | May 31, 2020 | |||||||||||||||||||
12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Warrants value | 3,586,000 | |||||||||||||||||||||
Amortization of debt discount | $ 4,368,000 | $ 4,368,000 | 4,368,000 | $ 4,368,000 | ||||||||||||||||||
Amortization period of interest expense | 1 year | |||||||||||||||||||||
Aggregate principal amount of converted notes to common stock | $ 316,000 | |||||||||||||||||||||
Notes payable, outstanding amount | $ 4,235,000 | 4,235,000 | 4,235,000 | $ 4,235,000 | ||||||||||||||||||
(Loss) gain on debt conversion | (190,000) | |||||||||||||||||||||
Accretion of discount | 339,000 | 605,000 | ||||||||||||||||||||
12% Secured Promissory Note Due September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, outstanding amount | $ 7,858,000 | $ 7,858,000 | ||||||||||||||||||||
12% Secured Promissory Note Due September 2020 [Member] | Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 12.00% | 12.00% | 12.00% | 12.00% | ||||||||||||||||||
Notes payable, maturity date | Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2020 | |||||||||||||||||||
12% Secured Promissory Note Due September 2020 [Member] | Notes Payable [Member] | Simply Mac, Inc. [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 12.00% | |||||||||||||||||||||
Notes payable, outstanding amount | $ 7,858,000 | |||||||||||||||||||||
Notes payable, issued amount | 7,858,000 | |||||||||||||||||||||
Debt instrument, periodic payment | $ 1,965,000 | |||||||||||||||||||||
Number of equal installments of principal value of note | Installment | 4 | |||||||||||||||||||||
Installment period of note | 3 months | |||||||||||||||||||||
Amended Promissory Note [Member] | Notes Payable [Member] | Simply Mac, Inc. [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Notes payable, interest rate | 6.00% | |||||||||||||||||||||
Notes payable, outstanding amount | $ 1,250,000 | |||||||||||||||||||||
Notes payable, maturity date | Feb. 17, 2024 | |||||||||||||||||||||
Interest Expense [Member] | 12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
(Loss) gain on debt conversion | 1,946,000 | |||||||||||||||||||||
Other Income (Expense) [Member] | 12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Increase decrease in derivative liability | $ (806,000) | 543,000 | 543,000 | |||||||||||||||||||
Valuation, Market Approach [Member] | 12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Derivative liability | 7,954,000 | $ 7,954,000 | ||||||||||||||||||||
Convertible Notes and Warrants [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes amount | $ 1,000,000 | |||||||||||||||||||||
Convertible notes term | 3 years | |||||||||||||||||||||
Notes payable, interest rate | 0.00% | |||||||||||||||||||||
Warrants value | $ 127,000 | |||||||||||||||||||||
Conversion feature value | 144,000 | |||||||||||||||||||||
Debt value | $ 729,000 | |||||||||||||||||||||
Aggregate principal amount of converted notes to common stock | $ 725,000 | $ 91,000 | 184,000 | |||||||||||||||||||
Notes payable, outstanding amount | $ 275,000 | 91,000 | ||||||||||||||||||||
Accretion of discount | 1,000 | 6,000 | 12,000 | |||||||||||||||||||
Convertible Notes and Warrants [Member] | 12% Convertible Notes Due October 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes amount | $ 4,000,000 | |||||||||||||||||||||
Convertible notes term | 1 year | |||||||||||||||||||||
Notes payable, interest rate | 12.00% | 6.00% | 6.00% | |||||||||||||||||||
Warrants value | $ 769,000 | |||||||||||||||||||||
Conversion feature value | 1,173,000 | |||||||||||||||||||||
Debt value | $ 2,058,000 | |||||||||||||||||||||
Aggregate principal amount of converted notes to common stock | 2,225,000 | $ 1,700,000 | ||||||||||||||||||||
Notes payable, outstanding amount | 1,775,000 | $ 75,000 | $ 75,000 | |||||||||||||||||||
(Loss) gain on debt conversion | (8,000) | |||||||||||||||||||||
Accretion of discount | 485,000 | $ 971,000 | ||||||||||||||||||||
Notes payable, maturity date | Jun. 30, 2020 | |||||||||||||||||||||
Convertible Notes and Warrants [Member] | 12% Convertible Notes Due November 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes amount | $ 1,220,000 | |||||||||||||||||||||
Convertible notes term | 1 year | |||||||||||||||||||||
Notes payable, interest rate | 12.00% | |||||||||||||||||||||
Warrants value | $ 118,000 | |||||||||||||||||||||
Debt value | $ 1,102,000 | |||||||||||||||||||||
Accretion of discount | $ 30,000 | |||||||||||||||||||||
Convertible Notes and Warrants [Member] | 12% Convertible Notes Due May 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes amount | $ 3,500,000 | |||||||||||||||||||||
Convertible notes term | 1 year | |||||||||||||||||||||
Notes payable, interest rate | 12.00% | |||||||||||||||||||||
Warrants value | $ 507,000 | |||||||||||||||||||||
Conversion feature value | 243,000 | |||||||||||||||||||||
Debt value | 2,750,000 | |||||||||||||||||||||
Aggregate principal amount of converted notes to common stock | 2,000,000 | |||||||||||||||||||||
Notes payable, outstanding amount | 1,500,000 | |||||||||||||||||||||
(Loss) gain on debt conversion | 57,000 | |||||||||||||||||||||
Accretion of discount | $ 60,000 | |||||||||||||||||||||
Fundraising costs | 190,000 | |||||||||||||||||||||
Convertible Notes and Warrants [Member] | 12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Convertible notes amount | $ 4,551,000 | $ 4,551,000 | ||||||||||||||||||||
Convertible notes term | 1 year | |||||||||||||||||||||
Notes payable, interest rate | 12.00% | 12.00% | ||||||||||||||||||||
Warrants value | $ 1,897,000 | $ 1,897,000 | ||||||||||||||||||||
Conversion feature value | 2,471,000 | |||||||||||||||||||||
Debt value | $ 182,000 | $ 182,000 | ||||||||||||||||||||
Convertible Notes and Warrants [Member] | Interest Expense [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
(Loss) gain on debt conversion | $ 5,000 | $ (15,000) | ||||||||||||||||||||
Convertible Notes and Warrants [Member] | Interest Expense [Member] | 12% Convertible Notes Due May 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
(Loss) gain on debt conversion | $ (304,000) | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 105 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | 12% Convertible Notes Due October 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 90 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | 12% Convertible Notes Due November 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 90 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | 12% Convertible Notes Due May 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 105 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 2.20 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | 12% Convertible Notes Due October 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 2.47 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | 12% Convertible Notes Due November 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 2.52 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | 12% Convertible Notes Due May 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 2.33 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Entity Credit Risk [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 7.70 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Discount Rate [Member] | 12% Convertible Notes Due October 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 25 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Discount Rate [Member] | 12% Convertible Notes Due November 2019 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 25 | |||||||||||||||||||||
Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Discount Rate [Member] | 12% Convertible Notes Due May 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 30 | |||||||||||||||||||||
Warrants [Member] | Convertible Notes [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | 12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 70 | 70 | ||||||||||||||||||||
Warrants [Member] | Convertible Notes [Member] | Valuation, Market Approach [Member] | Measurement Input, Exercise Price [Member] | Certain Portion of 12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 20 | 20 | ||||||||||||||||||||
Warrants [Member] | Convertible Notes [Member] | Valuation, Market Approach [Member] | Measurement Input, Exercise Price [Member] | Other Portion of 12% Convertible Notes Due July, August and September 2020 [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||
Fair value assumption | 30 | 30 |
Capital Stock - Additional Info
Capital Stock - Additional Information (Detail) | Sep. 30, 2019USD ($)shares | Jan. 09, 2019USD ($)$ / sharesshares | Jan. 31, 2018$ / sharesshares | Jun. 30, 2020USD ($)DirectorFormerExecutiveshares | Mar. 31, 2020USD ($)ConvertibleNote$ / sharesshares | Oct. 31, 2019USD ($)$ / sharesshares | Mar. 31, 2019USD ($)$ / sharesshares | Aug. 01, 2020USD ($)shares | Jun. 30, 2019USD ($) | Dec. 31, 2019USD ($)shares | Feb. 01, 2020USD ($) |
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Warrants exercisable into shares of common stock | shares | 570,287 | ||||||||||
Exercise price of warrants, per share | $ / shares | $ 9.15 | ||||||||||
Fair value assumption,expected term | 5 years | ||||||||||
(Loss) gain on debt conversion | $ 13,642,000 | $ (9,000) | |||||||||
Aggregate proceeds from exercise of warrants | $ 1,154,000 | ||||||||||
Promissory note principal amount | $ 24,200,000 | $ 1,800,000 | $ 4,848,000 | $ 16,359,000 | $ 16,359,000 | ||||||
Debt exchange conversion units | shares | 570,287 | ||||||||||
Fair value assumption, risk-free interest rates, minimum | 0.20% | ||||||||||
Fair value assumption, risk-free interest rates, maximum | 0.30% | ||||||||||
Debt conversion, description | Company entered into an additional debt restructuring that resulted in the conversion of debt with an aggregate principal amount of $7,492,000 and accrued interest of $691,000 into common stock of the Company. The carrying value of the debt and related derivative liability at the time of extinguishment amounted to $8,341,000. The aggregate total of $8,183,000 was converted into 48,136,000 shares of common stock at $0.17 per share. | ||||||||||
Debt conversion, aggregate principal amount | $ 7,492,000 | $ 7,800,000 | |||||||||
Debt conversion, accrued interest | 691,000 | ||||||||||
Debt aggregate conversion amount | 8,183,000 | ||||||||||
Number of outside directors | Director | 2 | ||||||||||
Number of former executives | FormerExecutive | 3 | ||||||||||
Board of Directors [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 2,950,000 | ||||||||||
Common stock issued, value | $ 390,000 | ||||||||||
Common Stock [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Fair value assumption, expected volatility | 95.00% | ||||||||||
(Loss) gain on debt conversion | $ 6,472,000 | ||||||||||
Debt exchange conversion units | shares | 48,136,000 | ||||||||||
Debt exchange conversion price per unit | $ / shares | $ 0.17 | ||||||||||
Debt and related derivative liability at the time of extinguishment | $ 8,341,000 | ||||||||||
Combined value of stock issued in conversion | $ 1,869,000 | ||||||||||
Common stock issued | shares | 10,684,000 | ||||||||||
Common Stock [Member] | Board of Directors [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 804,000,000 | ||||||||||
Common stock issued, value | $ 106,000 | ||||||||||
Common Stock [Member] | Former Executive | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 278,000,000 | ||||||||||
Common stock issued, value | $ 27,000 | ||||||||||
Common Stock [Member] | Other Expenses [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 10,400,000 | ||||||||||
Common stock issued, value | $ 415,000 | ||||||||||
Common Stock [Member] | Simply Mac, Inc. [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 10,400,000 | ||||||||||
Settlement Agreement with Vendor [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Amount owed by vendor | $ 164,000 | ||||||||||
Issuance of restricted common shares | shares | 93,448 | ||||||||||
Warrants exercisable into shares of common stock | shares | 93,448 | 382,165 | |||||||||
Exercise price of warrants, per share | $ / shares | $ 1.64 | ||||||||||
Warrants exercisable beginning date | Jul. 9, 2019 | ||||||||||
Warrants exercisable expiration date | Jan. 9, 2022 | ||||||||||
Fair value of warrants estimated on the date of issuance | $ 59,000 | ||||||||||
Combined value of the stock and warrants | 173,000 | ||||||||||
(Loss) gain on debt conversion | (9,000) | ||||||||||
Strike price per share | $ / shares | $ 3.02 | ||||||||||
Aggregate proceeds from exercise of warrants | $ 1,154,000 | ||||||||||
Settlement Agreement with Vendor [Member] | Restricted Stock Award [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Fair value of restricted stock estimated on the date of issuance | $ 114,000,000 | ||||||||||
Fair value assumption, discount rate | 25.00% | ||||||||||
Fair value assumption, risk-free interest rates | 2.52% | ||||||||||
Fair value assumption,expected term | 6 months | ||||||||||
Fair value assumption, expected volatility | 90.00% | ||||||||||
Settlement Agreement with Vendor [Member] | Warrants [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Fair value assumption, risk-free interest rates | 2.54% | ||||||||||
Fair value assumption,expected term | 3 years | ||||||||||
Fair value assumption, expected volatility | 90.00% | ||||||||||
Settlement Agreement with Vendor [Member] | Common Stock [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Preferred stock convertible into common stock | shares | 297,000 | ||||||||||
Exchange [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
(Loss) gain on debt conversion | $ 204,000 | ||||||||||
Promissory note principal amount | 434,000 | 7,852,000 | |||||||||
Promissory notes accrued interest | 8,000 | 668,000 | |||||||||
Carrying value of extinguishment of debt | 7,461,000 | ||||||||||
Debt exchange conversion aggregate amount | $ 35,000 | $ 8,520,000 | |||||||||
Warrants exercisable expiration period | 3 years | ||||||||||
Number of convertible notes exchanged into common stock | ConvertibleNote | 2 | ||||||||||
Exchange [Member] | Warrants [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Exercise price of warrants, per share | $ / shares | $ 0.51 | ||||||||||
Fair value of warrants estimated on the date of issuance | $ 3,713,000 | ||||||||||
Fair value assumption,expected term | 3 years | ||||||||||
Fair value assumption, expected volatility | 70.00% | ||||||||||
Combined value of the stock and warrants | $ 12,177,000 | ||||||||||
(Loss) gain on debt conversion | (4,048,000) | ||||||||||
Debt exchange conversion aggregate amount | $ 8,464,000 | ||||||||||
Each unit comprised of common stock and warrant to purchase number of common share | shares | 15,396,000 | ||||||||||
Fair value assumption, risk-free interest rates, minimum | 1.50% | ||||||||||
Fair value assumption, risk-free interest rates, maximum | 1.70% | ||||||||||
Exchange [Member] | Common Stock [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Debt exchange conversion units | shares | 868,000 | 16,706,000 | |||||||||
Debt exchange conversion price per unit | $ / shares | $ 0.51 | $ 0.51 |
Recent Accounting Pronounceme_3
Recent Accounting Pronouncements - Additional Information (Detail) | Aug. 01, 2020 |
Accounting Standards Update 2017-04 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2020 |
Change in accounting principle, accounting standards update, immaterial effect | true |
Accounting Standards Update 2018-13 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2020 |
Change in accounting principle, accounting standards update, immaterial effect | true |
Segments - Additional Informati
Segments - Additional Information (Detail) | 6 Months Ended |
Aug. 01, 2020Segment | |
Segment Reporting [Abstract] | |
Number of segment | 2 |
Segments - Schedule of Operatin
Segments - Schedule of Operating Results of Segments (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | |
Segment Reporting Information [Line Items] | |||||
Net sales | $ 5,285 | $ 17,650 | $ 1,926 | $ 31,593 | $ 4,455 |
Gross profit | 1,508 | 4,529 | 279 | 9,024 | 640 |
Operating loss | (850) | (1,922) | (4,506) | (4,553) | (6,858) |
Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 5,285 | 17,650 | 1,926 | 31,593 | 4,455 |
Gross profit | 1,508 | 4,529 | 279 | 9,024 | 640 |
Operating loss | (716) | (529) | (744) | (1,390) | (1,518) |
Operating Segments [Member] | Retail Stores [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 5,281 | 17,616 | 1,342 | 31,455 | 3,000 |
Gross profit | 1,498 | 4,518 | 290 | 9,002 | 646 |
Operating loss | (615) | (458) | (385) | (1,129) | (821) |
Operating Segments [Member] | Cooltech Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 4 | 34 | 584 | 138 | 1,455 |
Gross profit | 10 | 11 | (11) | 22 | (6) |
Operating loss | $ (101) | $ (71) | $ (359) | $ (261) | $ (697) |
Segments - Reconciliation of Op
Segments - Reconciliation of Operating Loss to Cool Holdings as Reported (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020 | Aug. 01, 2020 | Jun. 30, 2019 | Aug. 01, 2020 | Jun. 30, 2019 | |
Operating loss: | |||||
Total consolidated operating loss | $ (850) | $ (1,922) | $ (4,506) | $ (4,553) | $ (6,858) |
Operating Segments [Member] | |||||
Operating loss: | |||||
Total consolidated operating loss | (716) | (529) | (744) | (1,390) | (1,518) |
Unallocated Expenses [Member] | |||||
Operating loss: | |||||
Total consolidated operating loss | $ (134) | $ (1,393) | $ (3,762) | $ (3,163) | $ (5,340) |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Feb. 01, 2020USD ($) | Aug. 01, 2020USD ($) | Jun. 30, 2019USD ($) | Aug. 01, 2020USD ($)ft² | Jun. 30, 2019USD ($) | |
Loss Contingencies [Line Items] | |||||
Lease expiration term | Jun. 30, 2027 | ||||
Area of small stores | 1,000 | ||||
Operating lease, expense | $ | $ 418,000 | $ 1,186,000 | $ 297,000 | $ 2,439,000 | $ 593,000 |
Maximum [Member] | |||||
Loss Contingencies [Line Items] | |||||
Area of larger stores | 5,200 | ||||
Lease initial term | 4 years | ||||
Lease term | 10 years | 10 years | |||
Minimum [Member] | |||||
Loss Contingencies [Line Items] | |||||
Lease initial term | 3 years |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Supplemental Lease Information (Detail) - USD ($) $ in Thousands | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 |
Leases [Abstract] | |||
Operating right of use assets | $ 8,674 | $ 8,760 | $ 7,504 |
Current operating lease liabilities | 2,893 | 2,768 | 2,577 |
Long-term operating lease liabilities | $ 6,003 | $ 6,109 | $ 5,023 |
Weighted-average remaining lease term in years | 3 years 10 months 2 days | ||
Weighted-average discount rate | 12.00% |
Commitments and Contingencies_3
Commitments and Contingencies - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 |
Leases [Abstract] | |||
2021 (remaining six months) | $ 2,061 | ||
2022 | 3,267 | ||
2023 | 2,141 | ||
2024 | 1,593 | ||
2025 | 898 | ||
Thereafter | 1,118 | ||
Total lease payments | 11,078 | ||
Less: interest | (2,182) | ||
Total | 8,896 | ||
Less: current portion | 2,893 | $ 2,768 | $ 2,577 |
Long-term portion | $ 6,003 | $ 6,109 | $ 5,023 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value (Detail) - Recurring [Member] - Level 3 [Member] - Derivative Liability [Member] - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Feb. 01, 2020 | Aug. 01, 2020 | Dec. 31, 2019 | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | $ 1,721 | $ 2,527 | |
Initial recognition of conversion features and warrants, October 2019 | $ 7,954 | ||
Change in fair value of derivative liability | 806 | (543) | (6,233) |
Extinguishment of derivative liability resulting from debt conversion | $ (1,984) | ||
Ending Balance | $ 2,527 | $ 1,721 |
Acquisition of Simply Mac - Add
Acquisition of Simply Mac - Additional Information (Detail) - Simply Mac, Inc. [Member] - Stock Purchase Agreement [Member] - USD ($) | Sep. 25, 2019 | Sep. 20, 2019 | May 09, 2019 | Dec. 31, 2019 |
Business Acquisition [Line Items] | ||||
Stock purchase agreement date | May 9, 2019 | |||
Stock purchase agreement amended date | Sep. 20, 2019 | |||
Aggregate consideration for stock purchase | $ 12,554,000 | |||
Cash consideration | 4,696,000 | |||
Value of implied goodwill deductible for tax purposes | $ 411,000 | |||
Payments on consideration including working capital adjustment | $ 5,157,000 | |||
Working capital adjustment | $ 461,000 | |||
12% Secured Promissory Note [Member] | ||||
Business Acquisition [Line Items] | ||||
Notes payable, interest rate | 12.00% | |||
Purchase consideration as promissory note | $ 7,858,000 |
Acquisition of Simply Mac - Sum
Acquisition of Simply Mac - Summary of Purchase Price Allocated to Net Assets Acquired in Transaction (Detail) - USD ($) | Aug. 01, 2020 | Feb. 01, 2020 | Dec. 31, 2019 | Sep. 25, 2019 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 699,000 | $ 699,000 | $ 699,000 | |
Simply Mac, Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash | $ 12,000 | |||
Accounts receivable | 1,367,000 | |||
Inventory | 9,145,000 | |||
Other current assets | 288,000 | |||
Fixed assets | 613,000 | |||
Right-of-use leased assets | 3,414,000 | |||
Goodwill | $ 699,000 | $ 699,000 | $ 699,000 | 699,000 |
Intangibles | 2,092,000 | |||
Other assets | 44,000 | |||
Accounts payable | (401,000) | |||
Lease liability | (3,430,000) | |||
Accrued liabilities | (1,289,000) | |||
Total | $ 12,554,000 |
Sale of Latin American Subsid_2
Sale of Latin American Subsidiaries - Additional Information (Detail) - Definitive Agreement [Member] | Apr. 06, 2020USD ($)Store | Jan. 31, 2020USD ($)Store |
OneClick Argentino S.R.L [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Discontinued operation, debt | $ 321,000 | |
Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Proceeds from sale of business | $ 100,000 | |
Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | 6-Month Installment Promissory Note [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Proceeds from sale of business | $ 100,000 | |
Argentina [Member] | OneClick Argentino S.R.L [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Number of retail consumer electronics stores | Store | 6 | |
Dominican Republic [Member] | Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Number of retail consumer electronics stores | Store | 7 |